Cardamom prices surged 4 per cent to hit an upper circuit limit of Rs 1,207.60 per kg in futures trade today as participants widened their bets in line with the fear of damage to the standing crops and delay in new crop supplies amid heavy monsoon.
Moreover, strong demand from domestic and export markets, too, fuelled the uptrend.
At the Multi Commodity Exchange, cardamom for delivery in October was trading higher by Rs 46.40, or 4 per cent, to hit an upper limit of Rs 1,207.60 per kg in a business turnover of just 5 lots.
Meanwhile, spice for delivery in September traded higher by Rs 46.10, or 3.95 per cent, to Rs 1,214 per kg with trading volume of 37 lots.
Analysts said, fresh positions created by traders due to pick-up in demand at spot market lifted cardamom prices notably higher.
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