Cardamom futures rise 0.32% as demand picks up

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spicemarketnews_cardamom_006Cardamom prices rose by 0.32 per cent to Rs 730 in futures trade today as speculators raised their bets, driven by pick up in demand in the spot market.

Besides, restricted supplies from producing regions supported the upside.

At the Multi Commodity Exchange, cardamom for delivery in far-month January 2016 contract rose by Rs 2.30, or 0.32 per cent to Rs 730 per kg in business turnover of 20 lots.

Likewise, the spice for delivery in December contracts edged up by Rs 1.20, or 0.17 per cent to Rs 694 per kg in 95 lots.

Market analysts said fresh positions built up by traders demand picked up in the spot market against restricted supplies from producing belts mainly led to rise in cardamom prices at futures trade.

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