Almond futures rise as demand picks up in spot markets

In a range-bound trading, almond prices shot up by Rs 5.50 or 1.66 per cent, to Rs 3,37,l75 per kg in futures market today on rising demand in the spot market following ongoing festive season.

Restricted arrivals from producing regions also influenced the almond prices.

At the Multi commodity Exchange counter, almond for September contract shot up by Rs 5.50, or 1.66 per cent, to Rs 337.75 per kg, with an open interest of 46 lots.

Market analysts said sharp rise in almond futures prices was attributed to rising demand in the spot market in view of festive season against restricted arrival from producing regions.