Cardamom prices surge 1.61 pct after spot demand

Cardamom prices surged 1.61 per cent to Rs 1,385 per kg in futures trade today, driven by the addition of bets amid an increase in demand at the domestic spot market.

Tight supply from key producing regions also helped prices to go higher.

At the Multi Commodity Exchange, cardamom for delivery in November contract rose by Rs 21.90, or 1.61 per cent, to Rs 1,385 per kg with trading volume of 12 lots.

According to traders, widening of position by participants, tracking rising demand at the physical markets in view of the ongoing festive season, kept cardamom prices higher in futures trade.