Cardamom futures extend gains, up 2.66% on strong demand

Cardamom prices rose further by 2.66 per cent to Rs 1,090 per kg in futures trade today as investors extended their positions, taking positive cues from spot markets on rising domestic and exports demand.

Besides, tight stocks position on fall in supplies from producing regions supported the upmove.

At the Multi Commodity Exchange, cardamom for delivery in August rose by Rs 28.30, or 2.66 per cent, to Rs 1,090 per kg, in a business turnover of 31 lots.

On similar lines, the spice for delivery in September traded higher by Rs 12.30, or 1.25 per cent, to Rs 1,000 per kg, in seven lots.

Analysts said expanding of positions by participants on the back of strong domestic as well as exports demand against tight stocks position on restricted arrivals from producing regions, mainly kept cardamom prices higher at futures trade.

(This article has not been edited by DNA's editorial team and is auto-generated from an agency feed.)