Cardamom futures recover 0.95 pc on pick up in demand

NEW DELHI: Cardamom prices rose by 0.95 per cent to Rs 900 per kg in futures trade today as speculators created fresh positions, tracking a firm spot market trend on pick up in spot markets demand.

Tight supplies in the physical market following limited arrivals from producing belts and some export enquiries further fuelled the uptrend in cardamom futures.

At the Multi Commodity Exchange, cardamom for delivery in December recovered by Rs 8.50, or 0.95 per cent, to Rs 900 per kg, with a business turnover of 68 lots.

Similarly, the spice for delivery in November traded higher by Rs 2.40, or 0.29 per cent, to Rs 824.30 per kg in 266 lots.

Marketmen attributed the rise in cardamom futures to pick up in demand in the spot market due to festive season, less arrivals from producing belts.