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Spot demand lifts cardamom futures by 1.26 per cent

Press Trust of India  |  New Delhi 

Cardamom prices were up 1.26 per cent to Rs 1,190 per kg in futures trade today after traders enlarged their positions, taking positive cues from spot market on rising domestic and demand.

Besides, restricted supplies from producing regions as considerable drop in rainfall at growing regions during the month of August-September has negatively impacted the cardamom production, supported the upside in prices.

At the Multi Commodity Exchange, cardamom for delivery in this month rose by Rs 14.80, or 1.26 per cent, to Rs 1,190 per kg in a business turnover of just two lots.

Similarly, spice for delivery in November gained Rs 2.40, or 0.21 per cent, to Rs 1,130.70 per kg in 185 lots.

Analysts attributed the rise in cardamom futures to uptick in domestic as well as demand in the spot market against tight stocks following restricted arrivals from producing belts.

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

First Published: Fri, October 14 2016. 13:22 IST