Cardamom extends gains on rising demand

August, Sept contracts gain 0.17% and 0.09% respectively, as lower arrivals from growing areas support uptrend

Continuing its rising streak for the third straight day on rising spot demand, cardamom prices were up by 0.17 per cent to Rs 900.50 per kg in futures trading today as speculators enlarged positions.

In addition, restricted arrivals from producing regions supported the uptrend.

At the Multi Commodity Exchange, cardamom for delivery in August added Rs 1.50, or 0.17 per cent, to Rs 900.50 per kg in business turnover of one lot.

The September contract edged up by 80 paise, or 0.09 per cent, to Rs 879.50 per kg in 5 lots.

Analysts said apart from rising demand in the spot market, restricted arrivals from producing belts influenced cardamom prices in futures trade.