Uptick in physical demand buoys cardamom

Cardamom futures were trading higher during morning trade in the domestic market on Friday as investors and speculators build up fresh bets in the agri-commodity amid uptick in physical demand for cardamom in the domestic spot market.

At the MCX, cardamom futures for April 2017 contract is trading at Rs 1411 per kg, up by 0.33 %, after opening at Rs 1407, against a previous close of Rs 1406. It touched the intra-day high of Rs 1414.30

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Trading Ideas

*Cardamom trading range for the day is 1372.1-1430.1.

*Cardamom prices dropped on the sidelines amid subdued physical demand for cardamom in the domestic spot market.

*Upcountry dealers as well as exporters were covering as it has become clear that no arrival of fresh cardamom will take place till the next season

*Cardamom prices in spot market gained by 0.80 rupees and settled at 1431.20 rupees.

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