Upsurge in demand lifts cardamom futures by 2.26%

NEW DELHI, Jan 1: Cardamom prices surged 2.26 per cent to Rs 1,129 per kg in futures trade on the first trading day of 2018 today as speculators built up fresh position amid uptick in demand in the domestic spot market.

Besides, tight stocks position on restricted supplies from producing regions fuelled the uptrend.

At the Multi Commodity Exchange, cardamom for delivery in January shot up by Rs 25, or 2.26 per cent, to Rs 1,129 per kg in business turnover of 3 lots.

Likewise, the spice for delivery in February contracts went up Rs 15.20, or 1.32 per cent, to Rs 1,166.60 per kg in 2 lots.

Traders said fresh positions created by participants, driven by pick up in demand in the physical market against restricted supplies from producing regions, pushed up cardamom prices in futures trade. (PTI)