Cardamom futures rise 2.08% on spot demand

NEW DELHI, June 18: Cardamom prices rose by 2.08 per cent to Rs 979.20 per kg in futures trade today as speculators widened their holdings tracking improvement in demand from spot domestic as well as export markets.

However, some gains were trimmed on expectations of bumper output amid reports of favourable weather in cultivating centres of Kerala.

At the Multi Commodity Exchange, cardamom for July contracts edged higher by Rs 20, or 2.08 per cent, to Rs 979.20 per kg in a business turnover of 7 lots.

Likewise, the spice for delivery in August contracts traded higher by Rs 10.50, or 1.10 per cent, at Rs 965 per kg with a trading volume of 9 lots.

Analysts said, fresh positions built up by the traders due to pick-up in demand at the spot market against restricted arrivals from producing regions pushed up cardamom futures. (PTI)