Cardamom futures up on spot demand

Cardamom futures prices rose by Rs 28.40 to Rs 1,542 per kg in futures trade today, tracking firming trend at the spot market on the back of pick-up in demand.

Less arrivals in the physical market influenced cardamom futures prices.

At the Multi Commodity Exchange counter, cardamom for delivery in February rose by Rs 28.40, or 1.88 per cent to Rs 1,542 per kg, with an open interest of just one lot.

Likewise, the spice for delivery in January moved up by Rs 17.90, or 1.21 per cent to Rs 1,495.10 per kg, with a business turnover of five lots.  

Market analysts attributed the rise in cardamom futures prices to pick-up in domestic and export demand, amid restricted arrivals from the southern region.