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Cardamom futures extend gains, up 0.88% on strong demand

New Delhi: Rising for the second straight day, cardamom prices rose by another 0.88 per cent to Rs 1,497.90 per kg in futures market today as traders engaged in building up positions amid strong domestic as well as exports demand in the spot market.

Besides, tight stock position on fall in arrivals from producing regions fuelled the uptrend.

At the Multi Commodity Exchange, cardamom for delivery in February went up by Rs 13, or 0.88 per cent, to Rs 1,497.90 per kg, in a business turnover of 87 lots.

On similar lines, the spice for delivery in March gained Rs 7.60, or 0.50 per cent, to Rs 1,530 per kg in 10 lots.

Traders said widening of positions by participants on the back of rising domestic and exports demand in the spot market against tight stock position on restricted supplies from producing belts mainly kept cardamom prices higher at futures trade.