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Cardamom futures gain on fresh spot market demand

Press Trust of India  |  New Delhi 

Cardamom futures prices gained by Rs 2.80 to Rs 910 per kg today, as speculators enlarged their positions on hopes of a rise in demand at spot during festive and marriage season.

Restricted arrivals from producing regions also supported the rise in prices.

At the Multi Commodity Exchange platform, cardamom for November delivery gained Rs 2.80, or 0.31 per cent, to Rs 910 per kg, clocking a trade volume of just one lot.

Similarly, the spice for delivery in December edged up by Rs 1.70, or 0.19 per cent, to Rs 899.50 per kg, with a business turnover of just one lot.

Traders said speculators increased their holdings on expectations of pick up in demand in the spot market during festival and marriage season, mainly attributed to the rise in cardamom futures prices.

They said restricted arrivals from southern region, too, supported the uptrend in prices. 

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First Published: Fri, October 29 2010. 14:24 IST