Cardamom rises 1.23% on spot demand
Cardamom prices rose by Rs 15.20 to Rs 1,250 per kg in futures trade today as speculators enlarged their positions, supported by pick up in spot market demand for the ongoing marriage season.
Tight stocks position following restricted arrivals from producing regions further fuelled the uptrend in cardamom prices.
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At the Multi Commodity Exchange, cardamom for August contract rose by Rs 15.20, or 1.23%, to Rs 1,250 per kg, with business volume of 47 lots.
The July contract gained Rs 10, or 0.75%, to Rs 1,332 per kg, with a business volume of 305 lots.
Traders said pick up in demand in the spot market, supported by the ongoing marriage season, mainly led to a rise in cardamom prices at futures market.
They said tight stocks following restricted supplies from Southern region also influenced prices.