Cardamom futures edge higher on rising demand

New Delhi: Supported by a firm trend at the domestic spot market on rising demand, cardamom prices gained 1.23 per cent to trade at Rs 746.90 per kg in futures market today as speculators enlarged positions.

Moreover, restricted supplies in the physical markets from major producing belts supported the uptrend in cardamom prices.

In futures trading at the Multi Commodity Exchange, cardamom for delivery in April increased by Rs 9.10, or 1.23 per cent, to Rs 746.90 per kg, in a business turnover of 147 lots.

Similarly, cardamom for delivery in May edged up by Rs 8, or 1.09 per cent, to Rs 737 per kg in 7 lots.

Analysts attributed the rise in cardamom prices at futures trade to a firming trend at spot markets on strong demand amid tight supplies from producing regions.