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Cardamom futures extend gains, up 1.62% on surging demand

Press Trust of India  |  New Delhi 

Cardamom prices rose further by 1.62 per cent to Rs 1,000 per kg in futures market today as speculators engaged in enlarging their positions, taking positive cues from the spot market on strong demand.

At the Multi Commodity Exchange, cardamom for delivery in far-month January next year shot up by Rs 15.90, or 1.62 per cent to Rs 1,000 per kg in business turnover of 1 lot.

On similar lines, the spice for delivery in December was trading higher by Rs 7.90, or 0.81 per cent to Rs 980.10 per kg in 37 lots.

Marketmen said widening of positions by participants on the back of rising domestic as well as demand in the physical market against tight stocks position on restricted supplies from producing regions, mainly kept cardamom prices higher at futures trade.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Fri, November 10 2017. 11:28 IST