Cardamom futures gain 2.33% on firm spot demand

Cardamom prices rose by Rs 22.70 to Rs 995 per kg in futures trade today, as speculators indulged in creating fresh positions on rise in spot market demand for the ongoing marriage season.

Less arrivals from producing regions also supported the rise in cardamom futures prices.

At the Multi Commodity Exchange, cardamom for March contract rose by Rs 22.70 or 2.33 per cent to Rs 995 per kg in single lot.

In a similar fashion, the spice for delivery in December contract gained Rs 13.40 or 1.38 per cent to Rs 986 per kg, with a business turnover of 3 lots.

Traders said rise in rise in spot market demand due to the ongoing marriage season led to the rise in cardamom futures prices.

They said restricted arrivals from the southern region, also influenced the uptrend.