Cardamom rises on firm spot demand

Cardamom prices rose Rs 20.80 to Rs 1,536 per kg in futures trade today on the back of strong demand against the restricted supply in the spot market.

At the Multi Commodity Exchange, cardamom for March contract surged by Rs 20.80, or 1.37 per cent, to Rs 1,536 per kg, with a trading volume of 69 lots.

While February delivery rose by Rs 19.80, or 1.35 per cent, to Rs 1,480 per kg, with a business volume of 142 lots.

Similarly, the spice for delivery in April also inched higher by Rs 18.20, or 1.17 per cent, to Rs 1,572 per kg, with a trading turnover of 30 lots.    

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