Cardamom: Agri-commodity: Cardamom, mentha oil gain on spot demand

Cardamom prices rose 1.86 per cent to Rs 1,183 per kg in futures trade today as investors indulged in building up fresh positions amid increase in physical demand for cardamom at the domestic spot markets.

Besides, tight supplies from major producing regions also supported the upside in cardamom prices.

At the Multi Commodity Exchange, cardamom for delivery in October contract rose by Rs 21.60, or 1.86 per cent, to Rs 1,183 per kg with trading volume of 35 lots.

Similarly, the spice for delivery in current month increased by Rs 14.40, or 1.20 per cent, to Rs 1,215 per kg in 57 lots.

Traders said widening of positions by participants, driven by surge in demand at the spot market against restricted supplies from producing regions, mainly kept cardamom prices higher in futures trade.

Mentha oil
Mentha oil prices were trading up 0.87 per cent to Rs 1,199.60 per kg in futures market today after participants raised bets on rise in demand from consuming industries at the spot market against restricted arrivals from producing belts.

At the Multi Commodity Exchange, mentha oil for delivery in current month rose Rs 10.40, or 0.87 per cent, to Rs 1,199.60 per kg, clocking a business volume of 343 lots.

The oil for October delivery traded higher by Rs 9.30, or 0.77 per cent up, at Rs 1,212.20 per kg, with a trading volume of 39 lots.

Marketmen said raising of bets by speculators, driven by rising demand from consuming industries in the spot market against restricted supplies from Chandausi, led to the rise in mentha oil prices in futures trade.

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