Cardamom futures spurt 3% on domestic, export demand

NEW DELHI: Cardamom prices spurted by Rs 29.10 to Rs 999 per kg in futures trading today as speculators enlarged their positions, driven by strong domestic as well as export demand.

Tight stocks position in the physical market following less arrivals from producing belts further fuelled the uptrend.

At the Multi Commodity Exchange, cardamom for delivery in January spurted by Rs 29.10, or 3 per cent, to Rs 999 per kg in business turnover of 440 lots.

Similarly, the spice for delivery in the December contract shot up by Rs 27.20, or 3 per cent, to Rs 934.40 per kg in 1,351 lots.

Market analysts said positions created by speculators, driven by strong domestic as well as export demand in the spot market and restricted arrivals from producing belts mainly pushed up cardamom prices at futures market.