Cardamom futures were trading higher during the evening trade in the domestic market on Monday as investors and speculators widened their bets in the agri-commodity amid rise in physical demand for cardamom in the domestic spot market.

Further, tight stocks position on restricted supplies from producing regions, too supported the uptrend in domestic cardamom prices.

At the MCX, cardamom futures for September 2016 contract is trading at Rs 1,168.30 per kg, up by 4 per cent, after opening at Rs 1,129, against a previous close of Rs 1,123.40. It touched the intra-day high of Rs 1,168.30.

cardamom output is pegged at about 17,000-18,000 tonnes next year compared to 25,000 tonnes last year. Technically market is under long liquidation as market has witnessed drop in open interest by -26.54% to settled at 1160 while prices down -12.3 rupee, now Cardamom is getting support at 1107.3 and below same could see a test of 1091.2 level, And resistance is now likely to be seen at 1138.7, a move above could see prices testing 1154. 

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