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    Agri-commodity: Cardamom falls on low demand; palm oil rises

    Synopsis

    Besides, sufficient stocks on higher arrivals from the major cardamom producing regions too weighed on the prices.

    PTI
    Cardamom prices fell 3.77 per cent to Rs 1,030 per kg in futures trade today as investors cut down their bets amid slump in demand at the domestic spot market.

    Besides, sufficient stocks on higher arrivals from the major cardamom producing regions too weighed on the prices.

    At the Multi Commodity Exchange, cardamom for delivery in July contract fell by Rs 40.40, or 3.77 per cent, to Rs 1,030 per kg, in a business turnover of 78 lots.

    Similarly, the spice for delivery in far-month August edged down by Rs 28.80, or 2.99 per cent, to Rs 935.80 per kg, with trading volume of 18 lots.

    Analysts said offloading of positions by speculators amid higher supplies from producing regions and sluggish demand in the spot market mainly pulled down cardamom prices in futures trade.

    Palm oil
    Crude palm oil prices were trading up by 0.32 per cent to Rs 470 per 10 kg in futures trade today as speculators indulged in enlarging positions, driven by a firm demand at the spot market.

    Besides, a firming trend in overseas markets supported the uptrend.

    At the Multi Commodity Exchange, crude palm oil for delivery in July rose by Rs 1.50, or 0.32 per cent, to Rs 470 per 10 kg, in a business turnover of 206 lots.

    Similarly, the oil for delivery this month went up by Re one, or 0.20 per cent, to Rs 484.80 per 10 kg in 150 lots.

    Analysts said widening of positions by participants amid pick up in demand in the spot market against tight stocks position on restricted supplies from producing regions, mainly kept crude palm oil prices higher at futures trade.



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    The Economic Times

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