Commodities

Cardamom gains on firm spot demand

PTI New Delhi | Updated on August 17, 2011 Published on August 17, 2011

Increased buying by speculators on rising spot market demand because of the ongoing festive season against limited arrivals from producing southern region, mainly led to the rise in cardamom prices.   -  Business Line

Cardamom prices rose by Rs 2.10 to Rs 813.50 per kg in futures trade today as speculators enlarged their positions, driven by rising spot demand.

Less arrivals from producing regions further fuelled the uptrend in prices.

On the Multi Commodity Exchange, cardamom for delivery in September rose by Rs 2.10 or 0.26 per cent to Rs 813.50 per kg, with a business turnover of 76 lots.

Likewise, the spice for delivery in October gained Rs 1.70 or 0.20 per cent to Rs 861 per kg, with an open interest of 11 lots.

Analysts said increased buying by speculators on rising spot market demand because of the ongoing festive season against limited arrivals from producing southern region, mainly led to the rise in cardamom prices.

Published on August 17, 2011
This article is closed for comments.
Please Email the Editor