| Pick up in spot demand influences prices |
| Press Trust of India / New Delhi Aug 31, 2012, 14:37 IST
Cardamom prices rose by Rs 19.90 to Rs 1,031.50 per kg in futures trade today as speculators enlarged their positions after exchange authorities withdrew the special margin of 25% amid a pick up in spot demand.
Lower arrivals from producing regions also influenced cardamom.
At the Multi Commodity Exchange, cardamom for delivery in September rose by Rs 19.90, or 1.97%, to Rs 1,031.50 per kg in business turnover of 1,100 lots.
The October contract traded higher by Rs 7.60, or 0.69%, to Rs 1,112.50 per kg in 266 lots.
Analysts said fresh positions created by speculators after MCX decided to withdraw the special margin of 25% on long side trades influenced cardamom futures prices.
Rising spot demand also influenced prices, they said.
|
Friday, August 31, 2012
Cardamom rises almost 2% as MCX withdraws special margin
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment