Cardamom futures up on firm spot demand

Cardamom futures prices rose by Rs 11.30 to Rs 1,528 per kg today, as speculators enlarged their positions on the back of strong demand in the spot market.

Restricted arrival in the physical market further fueled the uptrend.

At the Multi Commodity Exchange, cardamom for February contract rose Rs 11.30, or 0.75 per cent, to Rs 1,528.00 per kg, with a business volume of single lot.

Similarly, the spice for delivery in March moved up by Rs 10.50, or 0.67 per cent to Rs 1,580 per kg, with a business volume of one lot.   

Market analysts said rise in cardamom futures prices was due to strong domestic demand for the ongoing marriage season, amid less arrivals from the producing region.