Cardamom futures up on spot demand

PTI New Delhi | Updated on March 04, 2011

Cardamom prices jumped by Rs 29.70 to Rs 1,182.40 per kg at the futures trading today, as speculators enlarged their positions supported by a strong spot demand. Tight arrivals from the producing regions further influenced the futures prices.

At the Multi Commodity Exchange, cardamom for delivery in May rose Rs 29.70 or 2.58 per cent to Rs 1,182.40 per kg with a business turnover of a single lot. Similarly, March contract moved up by Rs 14.40 or 1.31 per cent to Rs 1,110 per kg with an open interest of one lot.

Traders said strong demand in the spot market driven by the ongoing marriage season mainly led to a rise in cardamom futures prices. They said restricted arrivals from the producing belts also influenced the trading sentiment to some extent.

Published on March 04, 2011

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