Uptick in demand lifts cardamom futures by 3 pc

Cardamom prices moved up by 2.93 per cent to Rs 1,047 per kg in futures trade today as speculators built up fresh positions amid an upsurge in demand at the domestic spot market.
Besides, tight stocks position on fall in arrivals from producing regions supported the upmove.
At the Multi Commodity Exchange, cardamom for delivery in June rose by Rs 29.80, or 2.93 per cent, to Rs 1,047 per kg in business turnover of 39 lots.
Likewise, the spice for delivery in May contracts was trading higher by Rs 30.30, or 2.56 per cent, to Rs 1,215.90 per kg in 123 lots.

Traders said fresh positions created by participants, driven by pick up in demand in the the spot market against restricted supplies from producing regions, mainly led to rise in cardamom prices at futures trade.