Cardamom prices up on less arrivals

Cardamom prices rose by Rs 18.50 to Rs 1,372 per kg in futures trade today, as speculators created fresh positions on rising demand against restricted arrivals in the spot market.

At the Multi Commodity Exchange, cardamom for delivery in April contract rose by Rs 18.50, or 1.37 per cent, to Rs 1,372 per kg, with a business turnover of a single lot.

Similarly, the spice for delivery in March contract increased by Rs 15.30, or 1.17 per cent, to Rs 1,326.50 per kg, with a business turnover of one lot.

Market analysts attributed the rise in cardamom prices to rising demand in the spot market, driven by the ongoing marriage season against less arrivals from southern producing regions.