Increase in demand lifts cardamom futures by 2.98%

Cardamom prices rebounded by 2.98 per cent to Rs 643 per kg in futures trade today as participants indulged in building up fresh positions following upsurge in demand in the spot market.
Besides, tight stocks position in the physical market on restricted supplies from producing regions supported the upside.
At the Multi Commodity Exchange, cardamom for delivery this month recovered by Rs 18.60, or 2.98 per cent to Rs 643 per kg in business turnover of 1 lot.
Likewise, the spice for delivery in March contracts edged up by Rs 1.10, or 0.16 per cent to Rs 682.90 per kg in 68 lots.

Analysts said fresh positions built up by traders after pick up in demand in the spot market against restricted supplies from producing regions, mainly led to rise in cardamom prices at futures trade.