Cardamom futures gain 0.47% on spot demand

Cardamom prices ruled higher by 0.47 per cent at Rs 1,044.80 per kg in futures trade today, driven up by addition of bets amid increase in demand at the domestic spot market.

Tight supply from key producing regions also helped prices go higher.

At the Multi Commodity Exchange, cardamom for delivery in November contract rose by Rs 4.90, or 0.47 per cent, to Rs 1,044.80 per kg with trading volume of 26 lots.

The price of the spice for delivery in far-month December increased Rs 1.50, or 0.14 per cent, to Rs 1,050 per kg in 3 lots.

According to traders, widening of position by participants kept cardamom prices higher in futures trade.

(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)