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Cardamom futures climb 1.37% on strong demand

Press Trust of India  |  New Delhi 

Cardamom prices surged by 1.37 per cent to Rs 1,440 per kg in futures trading today as traders built up fresh positions, driven by strong demand in the spot market.

Besides, tight stocks position on fall in supplies from producing regions and some enquiries fuelled the uptrend.

At the Multi Commodity Exchange, cardamom for delivery in January 2017 shot up by Rs 19.50, or 1.37 per cent, to Rs 1,440 per kg, in a business turnover of two lots.

On similar lines, the spice for delivery in December was trading higher by Rs 16.50, or 1.19 per cent, to Rs 1,400 per kg in 17 lots.

Traders said fresh positions created by participants on the back of strong domestic as well as demand in the spot market against tight supplies from producing belts mainly led an upward trend in cardamom prices at futures trade.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Mon, November 28 2016. 11:42 IST