Cardamom up by 1.2% on firm demand

Cardamom prices rose by 1.26% to Rs 799.40 per kg in futures trade today as speculators indulged in creating fresh positions driven by firm demand in the spot market.

Further, tight supplies in the physical market following restricted arrivals from producing belts also supported the uptrend.

At the Multi Commodity Exchange, cardamom for December contracts rose by Rs 10, or 1.26%, to Rs 799.40 per kg, with a trading volume of 339 lots.

The spice for delivery in January 2014 was trading up by Rs 5.90, or 0.69%, to Rs 855 per kg, with a business volume of 60 lots.

Traders said rising export and spot demand against restricted arrivals from producing regions mainly influenced cardamom prices at futures market.