Cardamom futures up by 1.28% on the back of strong spot demand

NEW DELHI: Cardamom futures rose 1.28 per cent to Rs 827.30 per kg in futures market today as speculators went about creating fresh positions after demand picked up in the spot market.

Besides, tight stock position in the physical market following restricted arrivals from producing regions supported the uptrend.

At the Multi Commodity Exchange, cardamom for delivery in June rose Rs 10.50, or 1.28 per cent, to Rs 827.30 per kg in business turnover of 360 lots.

Likewise, the spice for delivery in July contract edged up by Rs 10, or 1.25 per cent, to Rs 804 per kg in 46 lots.

Market analysts said fresh positions built up by speculators on the back of a rise in demand in the spot market against tight supplies from producing belts largely influenced cardamom prices in futures trade.