Cardamom futures up 2.78% on restricted supply

Cardamom futures prices moved up further higher by Rs 32 to Rs 1,184.50 per kg today on the back of strong demand against restricted supply in the spot market.  

Lower arrivals to the physical market are further assisting the gains in prices.

At the Multi Commodity Exchange counter, cardamom for delivery in January surged by Rs 32, or 2.78 per cent to Rs 1,184.50 per kg, while February delivery rose by Rs 27.10 or 2.35 per cent to Rs 1,179 per kg.

Similarly, the spice of December delivery also rose by Rs 25.70, or 2.22 per cent to Rs 1,182 per kg.

Market analysts said continued rise in cardamom futures prices is due to strong domestic and export demand, amid low stocks and restricted supply.