Cardamom up by 1.2% on firm demand

Cardamom prices gained 1.17% to Rs 695 per kg in futures trade today as speculators enlarged their positions, tracking a firming trend at spot market on strong demand.

Besides, tight stocks position in the physical market following restricted supplies from major producing belts too supported upside in cardamom prices.

At the Multi Commodity Exchange, cardamom for delivery in January 2016 rose Rs 8.10, or 1.17%, to Rs 695 per kg in a business turnover of 189 lots.

Likewise, the spice for delivery in February next year edged up by Rs 5.80, or 0.78%, to Rs 748 per kg in 43 lots.

Analysts said speculators enlarged their positions, tracking a firm trend at spot market on strong demand against tight supplies from producing regions that helped cardamom prices to trade higher in futures trade.

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