Cardamom soars over 2% on firm physical demand

Cardamom soars over 2% on firm physical demand
23/08/2016 12:22

Cardamom futures jumped more than 2 per cent during noon trade in the domestic market on Tuesday as investors and speculators booked fresh positions in the agri-commodity amid a pickup in physical demand for cardamom in the domestic spot market.
Further, restricted supplies amid lower physical arrivals from the major cardamom producing belts in the country also exerted upward pressure on domestic cardamom prices.
At the MCX, cardamom futures for September 2016 contract is trading at Rs 1,197 per kg, up by 2.46 per cent, after opening at Rs 1,182, against a previous close of Rs 1,168.30. It touched the intra-day high of Rs 1,203.3. (at 12:16 PM).