Cardamom up by 3.8% on strong demand

Rising for the second straight day, cardamom prices spurted by 3.79% to Rs 836 per kg in futures trade today as participants engaged in expanding their positions, taking positive cues from spot market on strong domestic as well as export demand.

At the Multi Commodity Exchange, cardamom for delivery in June surged by Rs 30.50 or 3.79% to Rs 836 per kg in a business turnover of 509 lots.

On similar lines, the spice for delivery in far-month July contracts traded higher by Rs 24.30 or 3.00% to Rs 835.60 per kg in 781 lots.

Analysts said traders enlarged positions on the back of surging domestic and exports demand in the spot market against restricted supplies from producing regions mainly kept cardamom prices higher at futures trade.