Cardamom futures extend gain, up 1.79% on strong demand

Continuing its rising streak for the third day, cardamom prices advanced by 1.79 per cent to Rs 1,245 per kg in futures trade today as speculators engaged in enlarging their positions, tracking a firm trend at spot market on rising domestic as well as exports demand.
Besides, tight stocks position on fall in supplies from major producing regions,fuelled the uptrend.
At the Multi Commodity Exchange, cardamom for delivery in October month shot up by Rs 21.90, or 1.79 per cent to Rs 1,245 per kg in business turnover of 2 lots.
On similar lines, the spice for delivery in October month contracts traded higher by Rs 15.80, or 1.26 per cent to Rs 1,274 per kg in business turnover of 26 lots.

Traders said expanding of positions by participants, taking positive cues from spot market on strong domestic as well as exports demand, mainly kept cardamom prices higher at futures trade.