Cardamom futures extend gain on rising demand

Cardamom extended its firmness for the second straight day with futures prices rising by another Rs 29.30 to Rs 1,040.80 per kg today, as speculators enlarged positions on the back of the ongoing marriage season.

Restricted arrivals in spot markets from producing regions also influenced futures prices.

At the Multi Commodity Exchange counter, cardamom for delivery in December rose by Rs 29.30, or 2.90 per cent to Rs 1,040.80 per kg, with a trade volume of just one lot.

Similarly, the spice for delivery in January moved up by Rs 20.60, or 2.05 per cent to Rs 1,027.30 per kg, clocking an open interest of just one lot.

Traders said strong demand at spot markets, triggered by the ongoing marriage season amid tight supplies, helped cardamom to trade higher in futures trade here.