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Cardamom extended gains for the second straight day by adding Rs 3.10 to Rs 1,088.20 per kg at the futures trade today as speculators enlarged their positions, driven by a firming trend at the spot market on rising demand.
Restricted arrivals from the producing regions further fuelled the uptrend in cardamom prices at the futures trade.
At the Multi Commodity Exchange, cardamom for delivery in May added Rs 3.10 or 0.29 per cent to Rs 1,088.20 per kg with a business turnover of a single lot. Similarly, June contract also edged up by Rs 2.80 or 0.25 per cent to Rs 1,112.60 per kg with an open interest of a single lot.
Market analysts said apart from increased demand, restricted arrivals in the physical markets led to the rise in cardamom futures prices.
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