Cardamom futures up on spot demand

Press Trust of India / New Delhi November 23, 2011, 12:08 IST Cardamom prices rose by Rs 2.60 to Rs 695.10 per kg today on the back of a firming trend in the spot market amid rising export enquiries. Reduced supply from southern growing belts also supported prices of the commodity. At the Multi Commodity Exchange, February cardamom rose by Rs 2.60, or 0.37%, to Rs 695.10 per kg, with a trading volume of 59 lots, while the spice for December contract delivery gained Rs 2.40, or 0.36%, to Rs 654.80 per kg in 415 lots. The January contract advanced by Rs 1.30, or 0.19%, to Rs 674.40 per kg, with an open interest for 96 lots. Traders said increased buying in the spot market, fuelled by marriage and export demand, led to the rise in cardamom futures prices. They said reduced supply from southern growing belts also supported the uptrend.