Cardamom futures extend gain, climb 2.93% on rising demand

Rising for the second day, cardamom prices advanced by 2.93 per cent to Rs 833 per kg in futures trade today as participants engaged in enlarging their bets on the back of rising demand in the spot market.
Besides, tight stocks position on restricted supplies from producing regions supported the upside.
At the Multi Commodity Exchange, cardamom for delivery in May month shot up by Rs 23.70, or 2.93 per cent to Rs 833 per kg in business turnover of 2 lots.
Traders said widening of positions by participants, driven by surging in demand in the spot market against restricted supplies from producing regions mainly kept cardamom prices higher at futures trade.