Cardamom futures rise on improved export and spot demand

Cardamom prices rose 2.41 per cent to Rs 1,450 per kg in futures trade Monday as participants built up fresh positions on the back of improved export and spot demand.

Furthermore, restricted supplies from major producing regions following heavy loses to crop due to recent floods and on good exports demand added support to cardamom prices.

At the Multi Commodity Exchange, cardamom for October was trading higher by Rs 34.10, or 2.41 per cent, to Rs 1,450 per kg in a business turnover of 59 lots.

The spice for delivery in November traded higher by Rs 29.80, or 2.08 per cent, to Rs 1,459.90 per kg with a business volume of just one lot.

Analysts said speculators widened their positions following reports on heavy losses to crop amid recent floods and improved export and spot demand pushed up cardamom prices.