Cardamom rises by 0.6% on spot demand
Participants enlarged positions amid a firming trend at the spot market on rising demand
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Cardamom prices rose further by 0.62% to Rs 849.90 per kg in futures trade today after participants enlarged positions amid a firming trend at the spot market on rising demand.
Besides, tight stocks position in the physical market on restricted supplies from producing belts supported the upside.
At the Multi Commodity Exchange cardamom for delivery in May month gained Rs 5.20 or 0.62% to Rs 849.90 per kg in business turnover of 75 lots.
Similarly, the spice for delivery in June contracts edged higher by Rs 3.30 or 0.39% to Rs 858 per kg in 10 lots.
Analysts said speculators enlarged positions, tracking a firm trend at spot market on pickup in demand against restricted arrivals from producing belts mainly kept cardamom prices higher at futures trade.
Besides, tight stocks position in the physical market on restricted supplies from producing belts supported the upside.
At the Multi Commodity Exchange cardamom for delivery in May month gained Rs 5.20 or 0.62% to Rs 849.90 per kg in business turnover of 75 lots.
Similarly, the spice for delivery in June contracts edged higher by Rs 3.30 or 0.39% to Rs 858 per kg in 10 lots.
Analysts said speculators enlarged positions, tracking a firm trend at spot market on pickup in demand against restricted arrivals from producing belts mainly kept cardamom prices higher at futures trade.
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First Published: Apr 30 2015 | 11:28 AM IST