Cardamom rises by 0.7% on spot demand
Speculators created fresh positions amid pick-up in demand in spot markets
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Cardamom prices rose by 0.67% to Rs 1,164.70 per kg in futures trade today as speculators created fresh positions amid pick-up in demand in spot markets.
Besides, tight stocks position in the physical market on on restricted supplies from producing belts, fuelled the uptrend.
At the Multi Commodity Exchange, cardamom for delivery in April moved up by Rs 7.80, or 0.67%, to Rs 1,164.70 per kg in a business turnover of 5 lots.
Similarly, the spice for delivery in March edged higher by Rs 4.10, or 0.36%, to Rs 1,134 per kg in 174 lots.
Market analysts said fresh positions built-up by speculators due to pick-up in demand in spot markets against restricted supplies from producing regions mainly led to rise in cardamom prices at futures trade.
Besides, tight stocks position in the physical market on on restricted supplies from producing belts, fuelled the uptrend.
At the Multi Commodity Exchange, cardamom for delivery in April moved up by Rs 7.80, or 0.67%, to Rs 1,164.70 per kg in a business turnover of 5 lots.
Similarly, the spice for delivery in March edged higher by Rs 4.10, or 0.36%, to Rs 1,134 per kg in 174 lots.
Market analysts said fresh positions built-up by speculators due to pick-up in demand in spot markets against restricted supplies from producing regions mainly led to rise in cardamom prices at futures trade.
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First Published: Feb 13 2015 | 11:35 AM IST