Cardamom futures climb 1.55% on spot physical demand

Cardamom futures climb 1.55% on spot physical demand

28/11/2016 17:17

Cardamom futures jumped by more than 1 per cent during evening trade in the domestic market on Monday as investors and speculators extended their positions in the agri-commodity amid surge in physical demand for cardamom in the domestic spot market.

Further, restricted supplies amid insufficient physical arrivals from the major cardamom producing belts in the country also stressed upward pressure on domestic cardamom prices.

At the MCX, cardamom futures for December 2016 contract is trading at Rs 1405 per kg, up by 1.55 per cent, after opening at Rs 1395, against a previous close of Rs 1383.50. It touched the intra-day high of Rs 1430 (at 17:16 hours).

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