Cardamom maintain upward trend at futures trade on good demand

Continuing its rising streak for the third straight day, cardamom prices advanced by 0.97 per cent to Rs 1,340 per kg in futures trading today as traders engaged in enlarging their positions, driven by rising domestic as well as exports demand in the spot market.
Besides, expectations of lower arrivals due to poor production caused by prolonged dry weather condition in the growing regions fuelled the uptrend.
At the Multi Commodity Exchange, cardamom for delivery in December month gained Rs 12.90, or 0.97 per cent to Rs 1,340 per kg in business turnover of 33 lots.
On similar lines, the spice for delivery in January next year 2017 was trading higher by Rs 11.40, or 0.83 per cent to Rs 1,379 per kg in 22 lots.

Traders said widening of positions by participants on the back of rising domestic as well as export demand in the spot market against restricted supplies from producing regions mainly kept cardamom prices higher at futures trade.