Uptick in physical demand buoys cardamom futures 24/05/2017

Uptick in physical demand buoys cardamom futures
24/05/2017

Cardamom futures were trading higher during morning trade in the domestic market on Wednesday as investors and speculators build up fresh bets in the agri-commodity amid surge in physical demand for cardamom in the domestic spot market. Further, insufficient supplies on restricted physical arrivals from the major cardamom producing regions, supported the upward trend in the domestic cardamom prices. At the MCX, cardamom futures for June 2017 contract is trading at Rs 997 per kg, up by 0.40 per cent, after opening at Rs 1012, against a previous close of Rs 993. It touched the intra-day high of Rs 1018 (at 10:49 hours).

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