Cardamom futures prices up 2.43 pc

NEW DELHI: Cardamom prices extended gains, by rising Rs 35.60 to Rs 1,496 per kg in futures trade today as speculators created fresh positions on the back of firm spot demand.

Restricted arrivals from producing belts also supported the uptrend in cardamom futures prices.

On the Multi Commodity Exchange, cardamom for August delivery rose by Rs 35.60, or 2.43 per cent, to Rs 1,496 per kg, with a business volume of 971 lots.

The spice for September delivery increased by Rs 11.10, or 0.80 per cent, to Rs 1,397 per kg, with a business volume of 391 lots.

Traders said pick up in the spot market demand against restricted arrivals from producing regions led to the rise in cardamom prices in the futures market.

The production in the upcoming season is projected to decline because of unfavourable weather patterns.

The stockists are holding their produce expecting a further rise in prices, they added.