Cardamom up 2.7% on pick up in spot demand

Cardamom prices today rose by Rs 23.40 or 2.75% to Rs 874 per kg in futures market after speculators widened their positions supported by rising demand in the spot market.

Further, restricted supplies from producing regions and rising domestic as well as export demand in the spot market also fuelled the uptrend.

At the Multi Commodity Exchange, cardamom for delivery in July rose by Rs 23.40 or 2.75% to Rs 874 per kg in a business turnover of 252 lots.

Similarly, spice for delivery in June gained Rs 13.40 or 1.58% to Rs 860 per kg in 9 lots.

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