Cardamom futures extend gains, up 1.97% on strong demand

Continuing its rising streak, cardamom rose further by 1.97 per cent to Rs 1,197 per kg in futures trade today as participants engaged in enlarging their positions on the back of strong domestic as well as export demand in the spot market.

At the Multi Commodity Exchange, cardamom for delivery in October shot up by Rs 23.10, or 1.97 per cent, to Rs 1,197 per kg, in a business turnover of 48 lots.

On similar lines, the spice for delivery in September gained Rs 13.40, or 1.11 per cent, to Rs 1,220.10 per kg in 51 lots.

Analysts said expanding of positions by traders, taking positive cues from spot market on rising domestic as well as exports demand in the physical market, mainly kept cardamom prices higher at futures trade.

Tight stocks position on fall in supplies from producing regions supported the uptrend, they said.

(This article has not been edited by DNA's editorial team and is auto-generated from an agency feed.)