Cardamom futures up 0.82% on strong spot demand

The tight stocks position influenced cardamom prices in the futures market.

Written by Agencies | New Delhi | Published: September 5, 2012 1:33 pm

Cardamom prices rose by Rs 7.80 to Rs 948 per kg in futures trade today as traders enlarged their commitments,trigged by a pick-up in export and spot demand.

The tight stocks position following lower arrivals from producing regions also influenced cardamom prices in the futures market here.

At the Multi Commodity Exchange,cardamom for delivery in September rose by Rs 7.80,or 0.82 per cent,to Rs 948 per kg,with a business turnover of 299 lots.

Similarly,the spice for delivery in October edged up by Rs 8.10,or 0.76 per cent,to Rs 1,042.70 per kg in 78 lots.

Market analysts attributed the rise in cardamom futures prices to strong export and domestic demand amid restricted arrivals in the spot market.

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