Cardamom futures remain up on strong demand

NEW DELHI: Cardamom prices shot up by Rs 44.50 to Rs 1,251.40 per kg in futures trade today as speculators enlarged their positions, driven by strong demand in the spot market against restricted arrivals from producing belts.

At the Multi Commodity Exchange, cardamom for October jumped up by Rs 44.50, or 3.69 per cent, to Rs 1,251.40 per kg, with a business turnover of 51 lots.

Likewise, the spice for delivery in August gained Rs 9, or 0.67 per cent, to Rs 1,262 per kg, with a business turnover of 542 lots.

Traders said strong demand in the spot market ahead of festive season amid restricted arrivals from producing regions led to an upsurge in cardamom prices in the futures trade.