Cardamon up 4% on higher demand

Cardamom prices rise 4 percent to hit an upper circuit of Rs 1,376.60 per kg in futures trade today as participants built up fresh positions amid pick-up in demand at spot market.

Moreover, fears of damage to standing crops and delay in new crop supplies also fuelled the upward momentum.

At the Multi Commodity Exchange, cardamom for delivery in far-month October was trading higher by Rs 52.90, or 4 percent, to hit an upper limit at Rs 1,376.60 per kg in a business turnover of 12 lots.

For September, the spice traded higher by Rs 11.50, or 0.82 percent, to Rs 1,397.80 per kg with trading volume of 47 lots.

Analysts said fresh positions created by traders due to pick-up in demand in the spot market against tight stocks lifted cardamom prices notably higher.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)