Cardamom up 0.7% on spot demand

Continuing its rising streak for the second straight day, cardamom prices were up by 0.68% to Rs 779.50 per kg in futures market today as participants enlarged positions, tracking a firm trend at spot market on strong demand.

Furthermore, restricted supplies from producing regions and some exports enquiries supported the upside.

At the Multi Commodity Exchange, cardamom for delivery in May rose by Rs 5.30, or 0.68% to Rs 779.50 per kg in a business turnover of 82 lots.

In a similar fashion, the spice for delivery in far-month June traded higher by Rs 4.80, or 0.60% to Rs 810 per kg in 14 lots.

Market analysts said widening of positions by traders on the back of rising demand in the spot market against restricted supplies from producing belts mainly led an upward movements in cardamom prices at futures trade.