 "Cardamom rises by 2.3% on spot demand")
Cardamom prices shot up by 2.28% to Rs 1,195.30 per kg in futures trade today as speculators created positions, driven by strong demand in the spot market.
Tight stocks position in the physical market on restricted supplies from producing belts also supported the upside.
At the Multi Commodity Exchange, cardamom for delivery in March went up by Rs 26.70, or 2.28% to Rs 1,195.30 per kg in business turnover of 120 lots.
Marketmen said fresh positions built up speculators on the back of strong demand in the spot markets amid restricted supplies from producing regions mainly led to the rise in cardamom prices at futures trade.
Tight stocks position in the physical market on restricted supplies from producing belts also supported the upside.
At the Multi Commodity Exchange, cardamom for delivery in March went up by Rs 26.70, or 2.28% to Rs 1,195.30 per kg in business turnover of 120 lots.
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In a similar fashion, the spice for delivery in February contracts moved up by Rs 12.10, or 1.10% to Rs 1,113.70 per kg in 328 lots.
Marketmen said fresh positions built up speculators on the back of strong demand in the spot markets amid restricted supplies from producing regions mainly led to the rise in cardamom prices at futures trade.