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Cardamom futures gain 1.19% as demand picks up

Nov 19 2012, 12:55 IST
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SummaryCardamom prices gained 2.29 per cent to Rs 937.90 per kg in futures trade today.

Cardamom prices gained 2.29 per cent to Rs 937.90 per kg in futures trade today as speculators created fresh positions, tracking a firm trend at spot market on pick up in demand.

Restricted arrivals from producing belts also supported the uptrend.

At the Multi Commodity Exchange, cardamom for delivery in January shot up by Rs 21, or 2.29 per cent, to Rs 937.90 per kg in business turnover of 98 lots.

Similarly, the spice for delivery in the December contract jumped up by Rs 16.10, or 1.90 per cent, to Rs 863.50 per kg in 567 lots.

Market analysts said speculators created fresh positions on the back of pick up in demand in the spot market against restricted arrivals from producing region mainly led to rise in cardamom futures.

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