Almond futures up on spot demand; weak rupee

NEW DELHI: Almond futures prices on Tuesday rose by 2.99 per cent to Rs 481.50 per kg as speculators enlarged their positions, tracking a firming trend at spot market on pick-up in demand and expectations of a weak rupee would make the import costlier.

At the Multi Commodity Exchange, almond for delivery in June rose by Rs 14, or 2.99 per cent, to Rs 481.50 per kg in business turnover of two lots.

Market analysts said speculators enlarged their positions, tracking a firming trend at spot market on pick-up in demand, mainly pushed up almond prices at futures trade.

They said speculators also hoped the weak rupee would make import of almond costlier, and indulged in buying at current levels.

Meanwhile, the rupee on Tuesday climbed to an all-time high of 58.90 per dollar.