Upsurge in demand lifts cardamom futures by 2.24%

Cardamom prices shot up by 2.24 per cent to Rs 1,205.80 per kg in futures trade today as speculators created fresh positions, driven by uptick in domestic as well as exports demand in the spot market.
Besides, tight stocks position on restricted arrivals from producing regions supported the upside.
At the Multi Commodity Exchange, cardamom for delivery in November shot up by Rs 26.40, or 2.24 per cent, to Rs 1,205.80 per kg, in a business turnover of 160 lots.
On similar lines, the spice for delivery in December traded higher by Rs 24.30, or 2.04 per cent, to Rs 1,214 per kg in 45 lots.

Market analysts said besides uptick in domestic as well as exports demand in the spot market, tight stocks position on restricted arrivals from producing regions mainly pushed up cardamom prices at futures trade.