Cardamom up 2.68% on rising demand

Rising for the second day, cardamom prices advanced by 2.68% to Rs 1,079.80 per kg in futures trade today as participants engaged in enlarging their bets on the back of rising domestic as well as exports demand in the spot market.

Besides, tight supplies from producing regions also added support to the uptrend.

At the Multi Commodity Exchange, cardamom for delivery in September rose by Rs 28.20 or 2.68% to Rs 1,079.80 per kg in a business turnover of 580 lots.

Similarly, spice for delivery in October gained Rs 27.50 or 2.65% to Rs 1,066.50 per kg in 47 lots.
 
Traders said widening of positions by participants, driven by surge in demand at the spot market against restricted supplies from producing regions mainly kept cardamom prices higher at futures trade.