Cardamom rises 1% on fresh spot demand
On the Multi Commodity Exchange cardamom for the April contract surged by Rs 8.70, to Rs 881.30 per kg in business volume of 813 lots.
By PTI |
NEW DELHI: Cardamom prices rose Rs 8.70 to Rs 881.30 per kg in futures trade on Tuesday on speculators creating fresh positions largely on the back of pick-up in spot markets demand.
Restricted arrivals from producing regions also supported the rise in prices.
On the Multi Commodity Exchange cardamom for the April contract surged by Rs 8.70, or one per cent, to Rs 881.30 per kg in business volume of 813 lots.
For the May contract, it gained by Rs 6.90, or 0.76 per cent, to Rs 903.90 per kg in a business volume of 153 lots.
Traders said pick-up in demand in the spot market against restricted arrivals from producing regions mainly pushed up cardamom prices in the futures market.
Restricted arrivals from producing regions also supported the rise in prices.
On the Multi Commodity Exchange cardamom for the April contract surged by Rs 8.70, or one per cent, to Rs 881.30 per kg in business volume of 813 lots.
For the May contract, it gained by Rs 6.90, or 0.76 per cent, to Rs 903.90 per kg in a business volume of 153 lots.
Traders said pick-up in demand in the spot market against restricted arrivals from producing regions mainly pushed up cardamom prices in the futures market.
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