Cardamom futures extend gain 3 pc on festive demand

NEW DELHI: Cardamom futures prices rose further by Rs 27.50 to Rs 948 per kg today on pickup in demand in the spot market due to the ongoing festive season.

Low arrivals from producing regions also supported the rise in prices.

At the Multi Commodity Exchange counter, cardamom for November-month contract rose further by Rs 27.50, or 3.00 per cent, to Rs 948 per kg, with a trading volume of 272 lots, while December delivery surged by Rs 27.30, or 3 per cent, to Rs 936.80 per kg, with a business turnover of 96 lots.

The spice for delivery in January gained by Rs 20.60 or 2.28 per cent to Rs 922.90 per kg, clocking a trade volume of 25 lots.

Traders said pick up in demand in the spot market due to ongoing festive season, mainly attributed to the rise in cardamom futures prices.

They said restricted arrivals from southern region, too, supported the uptrend in prices.