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Spot demand lifts cardamom futures by 1.36%

Rupee_6

New Delhi: Cardamom prices moved up by 1.36 per cent to Rs 1,147.80 per kg in futures trade today as speculators created fresh positions, driven by uptick in demand in the spot market.

Besides, tight stocks position on restricted arrivals from producing regions supported the upside.

At the Multi Commodity Exchange, cardamom for delivery in November rose by Rs 15.40, or 1.36 per cent, to Rs 1,147.80 per kg, in a business turnover of 32 lots.

Likewise, the spice for delivery in far-month December traded higher by Rs 15.40, or 1.33 per cent, to Rs 1,171.90 per kg in nine lots.

Market analysts said fresh positions built up by traders due to upsurge in demand in the spot market against tight stocks position on fall in supplies from producing belts mainly led to the rise in cardamom prices at futures trade.

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