Cardamom futures extend gains, up 0.89% on strong demand

Cardamom prices rose by 0.89 per cent to Rs 1,530.90 per kg in futures trade today as speculators enlarged positions, taking positive cues from spot market on rising domestic as well exports demand.

At the Multi Commodity Exchange, cardamom for delivery in March rose by Rs 13.50, or 0.89 per cent to Rs 1,530.90 per kg in business turnover of 90 lots.

On similar lines, the spice for delivery in February contracts was trading higher by Rs 10.10, or 0.67 per cent to Rs 1,515.50 per kg in 69 lots.

Analysts said expanding of positions by participants on the back of strong domestic as well as exports demand market against tight stocks position on restricted arrivals from producing regions, mainly kept cardamom prices higher at futures trade.