 "Cardamom extends gains, rises 0.13% as demand picks up")
Cardamom prices extended gains for the third straight day by gaining 0.13 per cent to Rs 709.60 per kg in futures trade today as speculators enlarged their positions on increased demand in the spot market.
Tight stock availability in the physical market on restricted arrivals from producing belt fuelled the uptrend.
At the Multi Commodity Exchange, cardamom for delivery in February traded higher by 90 paise, or 0.13 per cent, to Rs 709.60 per kg in business turnover of 46 lots.
Market analysts said speculators enlarged their positions supported by increased spot market demand amid restricted arrivals from producing regions and it kept cardamom prices up for the third day at futures trade.
Tight stock availability in the physical market on restricted arrivals from producing belt fuelled the uptrend.
At the Multi Commodity Exchange, cardamom for delivery in February traded higher by 90 paise, or 0.13 per cent, to Rs 709.60 per kg in business turnover of 46 lots.
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However, the March contract held steady at Rs 739 per kg in eight lots.
Market analysts said speculators enlarged their positions supported by increased spot market demand amid restricted arrivals from producing regions and it kept cardamom prices up for the third day at futures trade.
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