Cardamom futures zoom 3.72 pc on strong demand

Cardamom prices strengthened by 3.72 per cent to trading at Rs 1,120 per kg in futures market 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 November advanced by Rs 40.20, or 3.72 per cent, to Rs 1,120 per kg, in a business turnover of 231 lots.

Likewise, the spice for delivery in current month increased by Rs 32.30, or 3.01 per cent, to Rs 1,104 per kg in 148 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.)