 "Cardamom climbs by 2% on rising spot demand")
Cardamom prices shot up by 2.03% to Rs 1,078.90 per kg in futures trade today as speculators indulged in creating positions amid positive cues from spot market on pick-up in demand.
Besides, tight stocks position in the physical market on restricted arrivals from producing belts, supported the upside.
At the Multi Commodity Exchange, cardamom for delivery in March surged by Rs 22, or 2.03%, to Rs 1,078.90 per kg in a business turnover of 411 lots.
Market analysts said fresh positions built by speculators, driven by rising demand in spot markets against restricted supplies from producing regions, mainly led to rise in cardamom prices at futures trade.
Besides, tight stocks position in the physical market on restricted arrivals from producing belts, supported the upside.
At the Multi Commodity Exchange, cardamom for delivery in March surged by Rs 22, or 2.03%, to Rs 1,078.90 per kg in a business turnover of 411 lots.
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Likewise, the spice for delivery in April edged up by Rs 5.10, or 0.49%, to Rs 1,037 per kg in 98 lots.
Market analysts said fresh positions built by speculators, driven by rising demand in spot markets against restricted supplies from producing regions, mainly led to rise in cardamom prices at futures trade.
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