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Cardamom futures edge higher on increased demand

02 Apr 2014 Evaluate

Cardamom futures traded higher on MCX as speculators enlarged positions, driven by rising demand in the spot market against restricted supplies from the major growing regions. Further, severe drought conditions in the cardamom belts too supported cardamom prices uptrend.

The contract for April delivery was trading at Rs 872.00, up by 0.51% or Rs 4.40 from its previous closing of Rs 867.60. The open interest of the contract stood at 1583 lots.

The contract for May delivery was trading at Rs 915.30, up by 0.52% or Rs 4.70 from its previous closing of Rs 910.60. The open interest of the contract stood at 2703 lots on MCX.