Cardamom up by 1.6% on spot demand

Cardamom prices rebounded 1.59% to Rs 678 per kg in futures trading today as traders created fresh positions, driven by pick up in demand in the spot market.

Besides, tight stocks position on restricted supplies from producing regions supported the upside.

At the Multi Commodity Exchange, cardamom for delivery in April month rose by Rs 10.60, or 1.59% to Rs 678 per kg in business turnover of 39 lots.

Similarly, the spice for delivery in far-month May contracts traded higher by Rs 2.90, or 0.40% to Rs 729.70 per kg in 188 lots.

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