Cardamom extends gain on rising demand

Restricted arrivals help the uptrend

Growing demand in the spot market following the festive season led cardamom prices to rise by another Rs 2.90 to Rs 1,358 per kg in futures trading today. Tight stocks positions due to restricted arrivals from producing belts supported the uptrend.

At the Multi Commodity Exchange, cardamom for delivery in August added Rs 2.90, or 0.21 per cent, to Rs 1,358 per kg in business turnover of 153 lots.

The September contract traded higher by Rs 1.10, or 0.08%, to Rs 1,340.20 per kg in three lots.

Market analysts said rising demand supported by the festive season kept cardamom futures firm. Restricted arrivals from producing belts also influenced the sentiment, they said.