 "Cardamom up by 0.6% on strong demand")
Continuing its rising streak for the third straight day, cardamom prices rose by another 0.63% to Rs 723 per kg in futures trade today as participants enlarged positions, driven by strong demand in the spot market.
Besides, tight stocks position on restricted supplies from producing regions supported the upside.
At the Multi Commodity Exchange, cardamom for delivery in May month rose by Rs 4.50, or 0.63% to Rs 723 per kg in business turnover of 120 lots.
Market analysts said increasing of positions by traders on the back of strong demand in the spot market against restricted supplies from producing regions mainly kept cardamom prices higher at futures trade.
Besides, tight stocks position on restricted supplies from producing regions supported the upside.
At the Multi Commodity Exchange, cardamom for delivery in May month rose by Rs 4.50, or 0.63% to Rs 723 per kg in business turnover of 120 lots.
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Likewise, the spice for delivery in far-month June contracts traded higher by Rs 4.60, or 0.62% to Rs 745.50 per kg in 12 lots.
Market analysts said increasing of positions by traders on the back of strong demand in the spot market against restricted supplies from producing regions mainly kept cardamom prices higher at futures trade.