Cardamom remains up on rising demand

Press Trust of India / New Delhi Feb 22, 2012, 15:07 IST

Cardamom advanced for the second straight day by adding Rs 9.70 to Rs 881 per kg in futures trading today on rising demand in the spot market, supported by the ongoing marriage season.

Restricted arrivals in the physical market from producing region also influenced the cardamom prices.

At the Multi Commodity Exchange, the April contract moved up by Rs 9.70, or 1.11%, to Rs 881 per kg, with a business turnover of 266 lots.

The March contract traded higher by Rs 8.80, or 1.06%, to Rs 837.30 per kg, with a business turnover of 1,439 lots.

Traders said rising demand in the spot market due to ongoing marriage season amid less arrivals from producing region mainly led to rise in cardamom prices at futures market.

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