Cardamom futures surge 3% on spot demand

Nov 23 2012, 13:03 IST
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SummaryCardamom prices surged by 3 per cent to Rs 1,092.20 per kg in futures trading.

Cardamom prices surged by 3 per cent to Rs 1,092.20 per kg in futures trading today as speculators enlarged their positions, driven by strong domestic as well as export demand in the spot market.

Besides, restricted arrivals from producing belts fuelled the uptrend.

At the Multi Commodity Exchange, cardamom for delivery in January surged by Rs 31.80, or 3 per cent, to Rs 1,092.20 per kg in business turnover of 477 lots. Similarly, the spice for delivery in the December contract shot up by Rs 30.70, or 3 per cent, to Rs 1,053.30 per kg in 1,812 lots.

Market analysts said speculators enlarged their positions, driven by strong domestic as well as export demand against less arrivals from producing belt mainly pushed up cardamom prices at futures market.

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