Cardamom futures up on spot demand

Written by Agencies | New Delhi | Updated: Jan 31 2011, 23:02pm hrs
Cardamom futures prices moved up by Rs 16.40 to Rs 1,454.90 per kg on Monday, as speculators enlarged their positions on pick up in demand in the spot market.

Restricted arrivals at the spot market from producing regions also influenced the cardamom prices at futures trade.

At the Multi Commodity Exchange, cardamom for March contract rose Rs 16.40, or 1.14 per cent to Rs 1,454.90 per kg, with a business volume of single lot.

Similarly, the spice for delivery in February contract moved up by Rs 7.70, or 0.55 per cent, to Rs 1,401.70 per kg, with an open interest of one lot.

Market analysts said rise in cardamom futures prices was attributed to pick up in demand in the spot market due to ongoing marriage season against limited arrivals from southern producing regions.