Cardamom futures extend gains, surge 1% on strong demand

Rising for the second straight day, cardamom prices spurted by one per cent to Rs 905 per kg in futures trade today as participants engaged in expanding their positions, taking positive cues from spot market on strong domestic as well as export demand.
At the Multi Commodity Exchange, cardamom for delivery in September surged by Rs 8.90 or one per cent to Rs 905 per kg in a business turnover of 29 lots.
On similar lines, the spice for delivery in August contracts traded higher by Rs 5.80 or 0.62 per cent to Rs 940.70 per kg in 43 lots.

Analysts said traders enlarged positions on the back of surging domestic and exports demand in the spot market against restricted supplies from producing regions mainly kept cardamom prices higher at futures trade.