Cardamom rises on firm spot demand

NEW DELHI: Cardamom futures prices rose by 12.50 to Rs 1,579 per kg in futures trading backed by a strong demand against restricted supplies in the spot market.

Restricted arrivals to the physical market are further assisting the gains in futures prices.

At the Multi Commodity Exchange counter, cardamom for delivery in March surged by Rs 12.50, or 0.80 per cent, to Rs 1,579 per kg, with an open interest of 60 lots.

While delivery in February rose by Rs 7.20, or 0.29 per cent, to Rs 1,541 per kg, with a business turnover of 305 lots.

Similarly, the spice of January-month delivery rose by Rs 4.70, or 0.31 per cent, to Rs 1,476 per kg, with a business turnover of 113 lots.

Market analysts said rise in cardamom futures prices was due to strong domestic and export demand, amid low stocks followed by restricted supplies.

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