Agri Business

Cardamom rises on firm spot demand

PTI New Delhi | Updated on January 11, 2011 Published on January 11, 2011

DOMESTIC DEMAND: Restricted arrivals at the physical market are further assisting the gains in futures prices. -- K.K. Mustafah   -  Business Line

Cardamom futures prices rose by 12.50 to Rs 1,579 a kg in futures trading backed by a strong demand against restricted supplies in the spot market.

Restricted arrivals at the physical market are further assisting the gains in futures prices. At the Multi Commodity Exchange counter, cardamom for delivery in March surged by Rs 12.50 or 0.80 per cent to Rs 1,579 a kg, with an open interest of 60 lots.

While delivery in February rose by Rs 7.20, or 0.29 per cent, to Rs 1,541 per kg, with a business turnover of 305 lots.

Similarly, the spice of January delivery rose by Rs 4.70 or 0.31 per cent to Rs 1,476 a kg, with a business turnover of 113 lots.

Market analysts said rise in futures prices was due to strong domestic and export demand, amid low stocks followed by restricted supplies.

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Published on January 11, 2011
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