Cardamom rises 1.34% on spot demand
Speculators enlarge positions as tight supplies from key growing areas fuel uptrend
)
Cardamom surged 1.34 per cent to Rs 829 per kg in futures market today after speculators enlarged positions supported by rising spot market demand.
Strong demand at the spot market against restricted arrivals also supported the upside.
At the Multi Commodity Exchange, cardamom for delivery in October rose Rs 11, or 1.34 per cent, to Rs 829 per kg in a business turnover of 55 lots.
The September contract gained Rs 7.50, or 0.93 per cent, to Rs 810.90 per kg in 98 lots.
Market analysts said besides rise in demand at the spot market, tight supplies from producing regions mainly helped cardamom prices to trade higher in futures trade.
Strong demand at the spot market against restricted arrivals also supported the upside.
At the Multi Commodity Exchange, cardamom for delivery in October rose Rs 11, or 1.34 per cent, to Rs 829 per kg in a business turnover of 55 lots.
The September contract gained Rs 7.50, or 0.93 per cent, to Rs 810.90 per kg in 98 lots.
Market analysts said besides rise in demand at the spot market, tight supplies from producing regions mainly helped cardamom prices to trade higher in futures trade.
Don't miss the most important news and views of the day. Get them on our Telegram channel
First Published: Aug 28 2015 | 11:48 AM IST