 "Cardamom climbs by 2.4% on strong demand")
Cardamom prices surged by 2.41% to Rs 949.50 per kg in futures trading today as speculators enlarged their positions, taking positive cues from spot market on strong demand.
Besides, tight stock position in the physical market on fall in supplies from major producing belts supported the upside.
At the Multi Commodity Exchange, cardamom for delivery in January month shot up by Rs 22.30, or 2.41% to Rs 949.50 per kg in business turnover of 8 lots.
Market analysts said speculators enlarged positions, driven by strong demand in the spot market against tight supplies from producing regions and this mainly pushed up cardamom prices at futures trade.
Besides, tight stock position in the physical market on fall in supplies from major producing belts supported the upside.
At the Multi Commodity Exchange, cardamom for delivery in January month shot up by Rs 22.30, or 2.41% to Rs 949.50 per kg in business turnover of 8 lots.
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Likewise, the spice for delivery in February contract edged up by Rs 1.20, or 0.11% to Rs 1,073.90 per kg in 285 lots.
Market analysts said speculators enlarged positions, driven by strong demand in the spot market against tight supplies from producing regions and this mainly pushed up cardamom prices at futures trade.