Cardamom surges on rising demand, tight supply

Supported by fall in supplies from growing regions, cardamom futures rose 0.82% to Rs 693.50 per kg in futures trade today as speculators indulged in strengthening positions coupled with firm spot demand.

At the Multi Commodity Exchange, cardamom for delivery in December was up by Rs 5.70, or 0.82%, to Rs 693.50 per kg, with a business turnover of 71 lots.

The delivery in January 2016 also went up by Rs 5.20, or 0.71%, to Rs 729.90 per kg, with a trading volume of 19 lots.

Market analysts said the rise in cardamom prices at futures trade was mostly attributed to rising demand at the spot markets against tight supplies from producing belts.