Cardamom remains up on spot demand

NEW DELHI: Cardamom futures prices continued to rise for the third straight day by adding Rs 14 to Rs 1,390 per kg in futures trading today on rising demand in the spot market following the ongoing marriage season.

Tight supply in the physical market further fuelled the uptrend.

At the Multi Commodity Exchange counter, cardamom for delivery in May rose by Rs 14, or 1.02 per cent, to Rs 1,390 per kg, with an open interest of just one lot.

Likewise, the spice for delivery in February moved up by Rs 4.70, or 0.36 per cent, to Rs 1315.70 per kg, with an open interest of just one lot.

Market analysts said rising demand in the spot market due to the ongoing marriage season led to the rise in cardamom prices at the futures trade.