Cardamom futures gain 1% as demand picks up
At the Multi Commodity Exchange, cardamom for delivery in February next year rose by Rs 9.50 to Rs 958.50 per kg in a business turnover of 36 lots.
By PTI | Updated:
NEW DELHI: Cardamom prices rose 1 per cent to Rs 958.50 per kg in futures trading today as speculators indulged in creating positions amid pick-up in demand in the spot market.
Besides, tight stocks position in the physical market on restricted supplies from producing belt, supported the uptrend.
At the Multi Commodity Exchange, cardamom for delivery in February next year rose by Rs 9.50, or 1 per cent, to Rs 958.50 per kg in a business turnover of 36 lots.
Similarly, the spice for delivery in January gained Rs 4.50, or 0.49 per cent, to Rs 928.70 per kg in 152 lots.
Market analysts said fresh positions built up by speculators following pick-up in demand in the spot market against tight supplies from producing belts mainly led to the rise in cardamom prices at futures trade.
Besides, tight stocks position in the physical market on restricted supplies from producing belt, supported the uptrend.
At the Multi Commodity Exchange, cardamom for delivery in February next year rose by Rs 9.50, or 1 per cent, to Rs 958.50 per kg in a business turnover of 36 lots.
Similarly, the spice for delivery in January gained Rs 4.50, or 0.49 per cent, to Rs 928.70 per kg in 152 lots.
Market analysts said fresh positions built up by speculators following pick-up in demand in the spot market against tight supplies from producing belts mainly led to the rise in cardamom prices at futures trade.
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