Cardamom up 1% as spot demand picks up

Cardamom prices today rose by Rs 8.40 or 0.98 per cent to Rs 869.90 per kg in futures market after speculators widened their positions supported by rising demand in the spot market.

Further, restricted supplies from producing regions too fuelled the uptrend.

At the Multi Commodity Exchange, cardamom for delivery in July rose by Rs 8.40 or 0.98 per cent to Rs 869.90 per kg in a business turnover of 73 lots.

Similarly, spice for delivery in August gained Rs 5.10 or 0.57 per cent to Rs 894 per kg in 14 lots.

Marketmen said besides rise in demand in the spot market, tight supplies from producing regions mainly helped cardamom prices to trade higher at futures trade.