Commodities

Cardamom gains on strong demand

PTI New Delhi | Updated on February 02, 2011

Strong demand in the spot market due to the ongoing marriage season, amid restricted arrivals from southern region led to upsurge in prices. -- K.K. Mustafah   -  Business Line

Cardamom prices surged by Rs 33.80 to Rs 1,442.80 a kg in futures trading on Tuesday as speculators enlarged their positions, supported by strong demand in the spot market.

Restricted arrivals from producing regions further fuelled the uptrend in cardamom prices.

At the Multi Commodity Exchange counter, cardamom for delivery in March surged by Rs 33.80 or 2.40 per cent to Rs 1,442.80 a kg, with an open interest of just one lot.

Similarly, the spice for delivery in April shot up by Rs 30.30 or 2.23 per cent to Rs 1,391 a kg, with a business turnover of just one lot.

Traders said strong demand in the spot market due to the ongoing marriage season, amid restricted arrivals from southern region led to upsurge in prices.

Published on February 02, 2011

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