Uptick in demand lifts cardamom futures by 1.17%

Cardamom prices rebounded by 1.17 per cent to Rs 848 per kg in futures trade today as traders created fresh positions after pick up in demand in the spot market.
Besides, tight stocks position on restricted supplies from producing regions and some exports enquiries supported the upside.
At the Multi Commodity Exchange, cardamom for delivery in June month rose by Rs 9.80, or 1.17 per cent to Rs 848 per kg in business turnover of 782 lots.
Likewise, the spice for delivery in July contracts edged up by Rs 3.90, or 0.45 per cent to Rs 862.20 per kg in 84 lots.

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