Cardamom rises on firm spot demand

Cardamom prices rose by 23.80 to Rs 1,309.90 per kg in futures trading today on the back of strong demand against restricted supply in the spot market.

Lower arrivals to the physical market also aided the gain in prices.

At the Multi Commodity Exchange platform, cardamom for January contract surged by Rs 23.80 or 1.84 per cent to Rs 1,309.90 per kg, with a trading volume of 178 lots, while February delivery rose by Rs 22 or 1.65 per cent to Rs 1,354 per kg, with a business volume of 22 lots. 

Similarly, the spice of December delivery also rose by Rs 16.50 or 1.41 per cent to Rs 1,183.70 per kg, with a turnover of 22 lots. 

Market analysts said rise in cardamom futures prices was due to strong domestic and export demand amid low stocks followed by restricted supply.