Cardamom futures rebound 0.86% on rising demand

NEW DELHI: Cardamom prices recovered by 0.86 per cent to Rs 965 per kg in futures trade today as speculators indulged in creating fresh positions, supported by rising demand in the spot market.

Besides, tight stocks position in the physical market due to less arrivals from producing regions influenced cardamom prices.

At the Multi Commodity Exchange, cardamom for delivery in September moved up by Rs 8.20, or 0.86 per cent, to Rs 965 per kg in a business turnover of 5 lots.

Similarly, the spice for delivery in October traded marginally higher by Rs 1.20, or 0.14 per cent, to Rs 941.90 per kg in 66 lots.

Marketmen attributed the rise in cardamom futures to firm demand in the spot market against restricted arrivals from producing belts.