 "Cardamom gains by 0.8% as demand picks up")
Cardamom prices rose 0.85% to Rs 865.50 per kg in futures trade today as participants created fresh position at existing lower levels amid pick-up in spot market demand against restricted arrivals from producing regions.
At the Multi Commodity Exchange, cardamom for delivery in December contracts moved up by Rs 7.30, or 0.85% to Rs 865.50 per kg in business turnover of 260 lots.
Likewise, the spice for delivery in January next year edged higher by Rs 7.40, or 0.83% to Rs 894 per kg in 21 lots.
Analysts said speculative fresh positions built by speculators at prevailing levels, driven by pick-up in demand in the spot market against limited arrivals from producing belts, mainly led to the rise in cardamom prices in futures trade.
At the Multi Commodity Exchange, cardamom for delivery in December contracts moved up by Rs 7.30, or 0.85% to Rs 865.50 per kg in business turnover of 260 lots.
Likewise, the spice for delivery in January next year edged higher by Rs 7.40, or 0.83% to Rs 894 per kg in 21 lots.
Analysts said speculative fresh positions built by speculators at prevailing levels, driven by pick-up in demand in the spot market against limited arrivals from producing belts, mainly led to the rise in cardamom prices in futures trade.
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