Cardamom up 2% on upsurge in demand

Cardamom prices were up 2.06% at Rs 1,146.50 per kg in futures trade today as speculators built up fresh position amid rising domestic as well as export demand in the spot market.

Besides, tight stocks position on restricted supplies from producing regions support to the uptrend.

At the Multi Commodity Exchange, cardamom for delivery in September shot up by Rs 23.10 or 2.06% to Rs 1,146.50 per kg in business turnover of 362 lots.

Similarly, spice for delivery in October contracts traded higher by Rs 18.60, or 1.68% to Rs 1,123.00 per kg in 45 lots.

Analysts said fresh positions created by participants, driven by uptick in domestic as well as exports demand in the spot market against restricted supplies from producing belts mainly pushed up cardamom prices at futures trade.