Cardamom futures prices spurted by Rs 57.40, or 4 per cent to hit the upper circuit at Rs 1,492.90 per kg today, as traders enlarged their commitments, driven by strong exports and domestic demand.
Lower arrivals from the producing regions in the spot markets too influenced the cardamom prices at futures market here.
At the Multi Commodity Exchange counter, cardamom for July traded Rs 57.40, or 4 per cent to hit the upper limit at Rs 1,492.90 per kg, with a turnover of 63 lots.
Similarly, the delivery in August contract also spurted by the similar margin to hit the upper circuit at Rs 1,448.30 per kg, with a turnover of five lots.
Marketmen said apart from better demand and restricted arrivals in physical markets, short-covering by speculators also led to a rise in cardamom prices at futures market.