Cardamom futures gain 1.86 pc on spot demand

Cardamom prices rose 1.86 per cent to Rs 1,183 per kg in futures trade today as investors indulged in building up fresh positions amid increase in physical demand for cardamom at the domestic spot markets.

Besides, tight supplies from major producing regions also supported the upside in cardamom prices.

At the Multi Commodity Exchange, cardamom for delivery in October contract rose by Rs 21.60, or 1.86 per cent, to Rs 1,183 per kg with trading volume of 35 lots.

Similarly, the spice for delivery in current month increased by Rs 14.40, or 1.20 per cent, to Rs 1,215 per kg in 57 lots.

Traders said widening of positions by participants, driven by surge in demand at the spot market against restricted supplies from producing regions, mainly 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.)