Spot demand, tight supply lift cardamom futures by 0.72%

Cardamom prices rose 0.72 per cent to Rs 686.60 per kg in futures trade today as speculators built up fresh positions, taking postive cues from spot market on pick up in demand.
Moreover, tight stocks position in the physical market following restricted supplies from major producing belts supported upside in cardamom prices.
At the Multi Commodity Exchange, cardamom for delivery in January 2016 moved up by Rs 4.90, or 0.72 per cent to Rs 686.60 per kg in business turnover of 71 lots.
On similar lines, the spice for delivery in February next year edged higher by 90 paise, or 0.12 per cent to Rs 736 per kg in 53 lots.

Analysts said participants built up positions amid pick up in demand in the spot market against restricted supplies from producing belts, led to rise in cardamom prices at futures trade.