Cardamom futures gain 1.91 pc on spot demand, low arrivals

NEW DELHI: Cardamom prices rose by 1.91 per cent to Rs 1,364 per kg in futures trade today as traders increased their positions, tracking a firm trend at spot market on pick-up in the demand against low arrivals from producing belts.

At the Multi Commodity Exchange, cardamom for delivery in September shot up by Rs 25.50, or 1.91 per cent, to Rs 1,364 per kg in business turnover of 144 lots.

Similarly, the spice for delivery in the August contract jumped up by Rs 25.80, or 1.88 per cent, to Rs 1,396.10 per kg in 870 lots.

Market analysts said besides pick-up in demand in the spot market supported by ongoing festive season, less arrivals from producing regions led to the rise in cardamom prices in the futures market here.