Cardamom gains by 0.5% as demand picks up

Cardamom futures traded 0.46 per cent higher at Rs 826.90 per kg today as participants built up fresh positions, tracking a firm trend at spot market on pick up in demand.

At the Multi Commodity Exchange, cardamom for delivery in January rose by Rs 3.80, or 0.46 per cent to Rs 826.90 per kg in a business turnover of 15 lots.

Likewise, the spice for delivery in far-month February traded higher by Rs 2.70, or 0.33 per cent to Rs 815.60 per kg in 145 lots.

Analysts said fresh positions built up by traders on pick up in demand in the spot market against restricted supplies from producing belts, led to the rise in cardamom prices at the futures trade.