Cardamom futures gain 1.44% on spot demand

Cardamom prices were higher by 1.44 per cent to Rs 1,160 per kg in futures market today as speculators built up fresh positions, taking positive cues from spot market on pick up in demand.

Besides, tight stocks position on fall in arrivals from producing belts fuelled the uptrend.

At the Multi Commodity Exchange, cardamom for delivery in October shot up by Rs 16.50, or 1.44 per cent to Rs 1,160 per kg in business turnover of 8 lots.

Likewise, the spice for delivery in September contracts traded higher by Rs 2.90, or 0.25 per cent to Rs 1,154 per kg in 14 lots.

Analysts said fresh positions created by participants on the back of rise in domestic as well as exports demand in the physical market mainly influenced cardamom prices at futures trade.

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