Cardamom futures zoom 3.10% on strong demand

Cardamom prices were higher by 3.10 per cent to trading at Rs 1,035.80 per kg in futures trade today as investors extended bets, tracking a firm trend at spot market on strong domestic as well as exports demand.

Besides, tight stocks position on fall in supplies from producing regions supported the upmove.

At the Multi Commodity Exchange, cardamom for delivery in January-2018 advanced by Rs 31.10, or 3.10 per cent, to Rs 1,035.80 per kg, in a business turnover of 17 lots.

Likewise, the spice for delivery in December increased by Rs 24.50, or 2.47 per cent, to Rs 1,016 per kg with trading volume of just 111 lots.

Analysts attributed the rise in cardamom prices in futures trade to widening of positions by participants, tracking a firm trend at the spot markets and pick up in export demand.

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