Spot demand lifts cardamom futures

Extending gains for the second straight day, cardamom prices rose further by 0.49 per cent to Rs 693 per kg in futures trade today as participants enlarged positions on the back of rising demand in the spot market.
Besides, tight stocks position in the physical market on restricted supplies from producing regions supported the upside.
At the Multi Commodity Exchange, cardamom for delivery in far-month April gained Rs 3.40, or 0.49 per cent, to Rs 693 per kg, in a business turnover of 14 lots.
On similar lines, the spice for delivery in March edged up by 50 paise, or 0.08 per cent, to Rs 636.10 per kg in 38 lots.

Analysts said fresh positions built up by traders after a rise in demand in the spot market against restricted supplies from growing regions, mainly influenced cardamom prices at futures trade.