Cardamom futures gain 1.81 pc on rise in spot demand

Cardamom prices were trading up by 1.81 per cent to Rs 950 per kg in futures trade today as speculators enlarged positions amid an upsurge in physical demand in the domestic spot market.

Furthermore, tight supplies from major producing regions also supported the upside in cardamom prices.

At the Multi Commodity Exchange, cardamom for delivery in August rose by Rs 16.90, or 1.81 per cent, to Rs 950 per kg with trading volume of 46 lots.

Similarly, spice for delivery in July was trading up by Rs 2.40, or 0.23 per cent, to Rs 1,030 per kg, in a trading volume of 84 lots.

Traders said widening of positions by participants, driven by surge in demand at the spot market against restricted supplies from producing regions, mainly kept cardamom prices higher at futures trade.

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