Cardamom rises almost 2% as MCX withdraws special margin

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. http://www.business-standard.com/india/news/cardamom-rises-almost-2-as-mcx-withdraws-special-margin/184902/on