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Cardamom futures extend gain, up 1.06 pc on strong demand

Press Trust of India  |  New Delhi 

Supported by strong domestic as well as export demand, cardamom continued its upward journey for the sixth day today by gaining another 1.06 per cent to Rs 1,158 per kg in futures trade as participants engaged in widening their bets.

Furthermore, tight stocks position on restricted arrivals from producing regions fuelled the uptrend.

At the Multi Commodity Exchange, cardamom for delivery in November rose by Rs 12.10 or 1.06 per cent to Rs 1,158 per kg in business turnover of 28 lots.

On similar lines, the spice for delivery in December contracts traded higher by Rs 8.50 or 0.74 per cent to Rs 1,164.90 per kg in 2 lots.

Analysts said widening of positions by traders on the back of strong domestic and export demand in the spot market against tight stocks position on fall in arrivals from producing regions mainly kept cardamom prices up at futures trade.

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

First Published: Wed, October 19 2016. 12:42 IST