Cardamom futures gain 0.43% on uptick in demand

Cardamom prices went up by 0.43 per cent to Rs 864 per kg in futures trading today as participants widened their bets, driven by pick up in demand in the spot market.

Besides, tight stocks position on restricted supplies from producing belts supported the upside.

At the Multi Commodity Exchange, cardamom for delivery in July month advanced by Rs 3.70, or 0.43 per cent to Rs 864 per kg in business turnover of 5 lots.

On similar lines, the spice for delivery in August contracts edged up by 30 paise, or 0.03 per cent to Rs 892 per kg in 4 lots.
 

Marketmen said increasing of positions by traders on the back of upsurge in demand in the spot market against tight stocks position on restricted supplies from producing regions mainly kept cardamom prices higher at futures trade.