Today Cardamom futures up on upswing in demand

During the morning trade Cardamom futures were trading high in the domestic market on Wednesday as investors and speculators build up new positions in the agri-commodity among rise in physical demand for cardamom in the domestic spot market. Further, insufficient supplies amid restricted physical arrivals from the major cardamom producing regions, too supported the uptrend in the domestic cardamom prices. 

At the MCX, cardamom futures for October 2016 contract is trading at Rs 1136 per kg, upward by 0.40 %, after opening at Rs 1128, against a previous close of Rs 1131.50. It touched the intra-day high of Rs 1136.

 

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RESEARCH VIA MCX DAILY COMMODITY UPDATE 24 JAN 2014

Precious Metals
SILVER  GOLD
                                                     D A I L Y B U Z Z
GOLD
Tracking a weak global trend, gold prices declined by 0.18 per cent to Rs 29,187 per ten grams
in futures trade today as speculators offloaded their positions.

At the Multi Commodity Exchange, gold for delivery in February declined by Rs 54, or 0.18 per cent, to Rs 29,187 per ten grams in a business turnover of 1,498 lots.

Similarly, the yellow metal for delivery in April traded lower by Rs 31, or 0.11 per cent, to Rs 28,615 per ten grams in 53 lots.

SILVER
Silver prices declined 0.20 per cent to Rs 44,391 per kg in futures trade today as speculators trimmed positions on weak global trend.

At the Multi Commodity Exchange, Silver for delivery in March fell by Rs 89, or 0.20 per cent, to Rs 44,391 per kg in business turnover of 2,026 lots.

Likewise, the white metal for delivery in May declined by Rs 51, or 0.11 per cent, to Rs 45,405 per kg in 77 lots.

Agro Outlook
CARDAMOM
                                                    D A I L Y B U Z Z
Continuing its rising streak for the fourth day, cardamom prices gained 0.30 per cent to Rs 739.60 per kg in futures trading today as speculators enlarged positions, driven by rising demand in the spot market.

Tight supplies in the physical market following less arrivals from producing regions also influenced cardamom prices.

At the Multi Commodity Exchange, cardamom for delivery in March gained Rs 2.20, or 0.30 per
cent, to Rs 739.60 per kg in a business turnover of 8 lots. Likewise, the spice for delivery in February edged up by 90 paise, or 0.13 per cent, to Rs 708.60 per kg in 57 lots.

Market analysts said rising demand in the spot market amid tight supplies from producing
region led to the uptrend in cardamom for the fourth-day at futures trade. 

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