MUMBAI (Commodity Online): Cardamom futures extended uptrend on Wednesday as traders offloaded their positions on the back of limited stocks in the spot markets amid firm domestic demand.
In MCX cardamom February contract is trading at Rs.668.40 per Kg, higher by 0.69 per cent on 14:55 IST against the previous close.
In the morning session the contract traded at a range of Rs.659.30-677.90 per Kg. Open interest of the contract is 4925 lots and volume traded is 5358 lots for the time being.
Shortage of quality produce from major producers may increase the demand from domestic and overseas buyers.
As per market source, the quality of crop is deteriorating due to delayed harvest. Unfavorable climate conditions in major growing areas in Kerala have also affected the quality of crop.
