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Robust demand lifts cardamom futures by 3 pc

Press Trust of India  |  New Delhi 

prices spurted 3 per cent to Rs 979.50 per kg in futures trade today as speculators raised their bets amid an increase in physical demand in the domestic spot market.

Tight stocks position on fall in arrivals from growing regions too fuelled the uptrend.

At the Multi Commodity Exchange, for delivery in July month went up by Rs 28.50, or 3 per cent, to Rs 979.50 per kg in a business turnover of 64 lots.

Similarly, the spice for delivery in the current month edged higher by Rs 26.70, or 2.99 per cent, to Rs 919.20 per kg with a trading volume of just one lot.

Traders said widening of positions by participants, driven by surge in demand in the physical market against restricted supplies from producing regions, led to the rise in prices in futures trade.

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

First Published: Wed, June 13 2018. 12:10 IST