Cardamom turns higher on firm spot demand

Cardamom futures prices rose by Rs 32.50 to Rs 1,588 per kg in futures trade today largely on the back of strong demand against the restricted supply in the spot market.

At the Multi Commodity Exchange counter, cardamom for February-month delivery contract surged by Rs 32.50, or 2.07 per cent, to Rs 1,588 per kg, with a business turnover of 608 lots.

While March-month delivery rose by Rs 32, or 2.01 per cent, to Rs 1,625.60 per kg, with a business volume of 125 lots.

Similarly, the spice of January delivery rose by Rs 11.30, or 0.77 per cent, to Rs 1,487 per kg, with a business turnover of 76 lots.

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