Snapping a three-day losing streak, cardamom prices shot up by Rs 45.80 or 3.04 per cent to Rs 1,552 per kg in futures trade today, as traders created fresh positions on pick up in demand in the spot market.
Restricted arrivals from the producing regions also supported the rise in prices. At the Multi Commodity Exchange, cardamom for far-month September contract shot up by Rs 45.80, or 3.04 per cent to Rs 1,552 per kg, with an open interest of 1,748 lots.
The spice for delivery in June contract also jumped up by Rs 27.60, or 1.70 per cent to Rs 1,650 per kg, with a business volume of 1,334 lots.
Traders said firming demand against less arrivals in the physical market mainly led to an upsurge in cardamom prices at futures market.
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