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Cardamom futures gain 1% on rise in spot demand

Press Trust of India  |  New Delhi 

Cardamom prices were trading up by 1 per cent at Rs 961 per kg in futures trade today as speculators enlarged their positions amid an upsurge in physical demand at the domestic spot market.

Further, tight supplies from major producing regions also supported the upside in cardamom prices.

At the Multi Commodity Exchange, cardamom for delivery in July rose by Rs 9.50, or 1 per cent, to Rs 961 per kg, with a trading volume of 20 lots.

Similarly, spice for delivery in August was up by Rs 4.50, or 0.50 per cent, to Rs 905 per kg, in trading volume of one lot.

Traders said widening of positions by participants, driven by surge in demand at the spot market against restricted supplies from producing regions, mainly kept cardamom prices higher at futures trade.

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

First Published: Wed, June 14 2017. 12:42 IST