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Uptick in demand lifts cardamom futures by 1.27%

Press Trust of India  |  New Delhi 

Cardamom prices shot up by 1.27 per cent to Rs 980 per kg in futures trading today as participants built up fresh positions amid pick-up in demand.

Furthermore, tight stock position on fall in arrivals from growing regions supported the upside.

At the Multi Commodity Exchange, cardamom for delivery in December went up by Rs 12.30, or 1.27 per cent, to Rs 980 per kg in a business turnover of 16 lots.

Likewise, the spice for delivery this month traded higher by Rs 10, or 1.20 per cent, to Rs 840 per kg with trading volume of just one lot.

Analysts said fresh positions created by traders due to pick up in demand in the spot market against restricted arrivals from producing regions mainly pushed up cardamom 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, November 15 2017. 13:13 IST