Rising demand lifts cardamom futures by 3%

Amid rising demand in the domestic spot market against restricted supplies from producing belts, cardamom prices spurted by 3 per cent to Rs 1,162.20 per kg in futures trade today as participants built up fresh positions.

At the Multi Commodity Exchange, cardamom for delivery in September climbed by Rs 33.80, or 3 per cent, to Rs 1,162.20 per kg, in a business turnover of 17 lots.

On similar lines, the spice for delivery in far-month October was trading higher by Rs 32.50, or 2.98 per cent, to Rs 1,122 per kg in three lots.

Analysts said fresh positions created by traders following pick up in domestic as well as exports demand in the spot market against tight stocks position on fall in arrivals from producing regions, mainly pushed up cardamom prices at futures trade.

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