Cardamom prices maintained an upward march in futures trade today and added Rs 25.50 to Rs 876.50 per kg on strong demand in the physical market against thin arrivals.
Cardamom in the physical markets turned strong on seasonal demand.
On the Multi Commodity Exchange, November cardamom rose by Rs 25.50, or 3%, to Rs 876.50 per kg, with a business volume of 391 lots.
The October contract increased by Rs 15.20, or 1.90%, to Rs 816 per kg, with a trading volume of 1,468 lots.
Likewise, for December delivery, the prices inched up by Rs 15.20, or 1.68%, to Rs 914.70 per kg, with an open interest of 95 lots.
Traders said strong demand in the physical markets ahead of the festive season against restricted supply from producing regions, mainly led to an upsurge in cardamom prices.
In addition, reports of tight stocks position in producing centres such as Gangtok and Siliguri, coupled with rise in export demand helped cardamom to trade higher in futures trade, they added.
