Cardamom futures extend gain, up 1.32 pc on rising demand

Continuing its gaining streak for the fourth straight day, cardamom prices moved up by 1.32 per cent to Rs 1,240 per kg in futures trade today as participants engaged in enlarging their positions, taking a positive cues from spot market on surging demand.
At the Multi Commodity Exchange, cardamom for delivery in November rose by Rs 16.20 or 1.32 per cent to Rs 1,240 per kg in business turnover of 24 lots.
On similar lines, the spice for delivery in December contracts traded higher by Rs 9.70 or 0.78 per cent to Rs 1,259.90 per kg in 10 lots.
Market analysts said widening of bets by traders on the back of rising demand in the spot market against tight stocks position on restricted supplies from producing belts kept cardamom prices higher at futures trade.