Cardamom futures rise 1.85% on tight stocks
08/05/2015 10:43
Supported by pickup in demand in the spot markets, cardamom prices were up by 1.85 per cent to Rs 879 per kg in futures market today as trader’s enlarged positions. Further, tight stocks position in the physical market on restricted supplies from producing belts fueled the uptrend. At MCX, Cardamom futures for May 2015 contract were trading at Rs. 879 per kg, up by 1.85 per cent, after opening at Rs. 879 against the previous closing price of Rs. 863. It touched the intra-day low of Rs. 879 till the trading. (At 10.40 AM today). Traders said speculators enlarged positions following pickup in demand in the spot market mainly led to the rise in cardamom prices at futures trade. The important markets for cardamom in India are Vandanmendu, Bodinayakanur, Kumily, Thekkady, Kumbum and Pattiveeran Patti in Kerala.
