Cardamom prices jumped by Rs 31.90 or 2.71 per cent to Rs 1,207.80 per kg in futures trading today, as speculators created fresh positions on hopes that demand might rise in the spot market.
Lower arrivals in spot markets from the producing regions and ongoing festive season also influenced the rise in prices.
At the Multi Commodity Exchange counter, cardamom for October month spurted by Rs 31.90, or 2.71 per cent to Rs 1,207.80 per kg with an open interest of 1,769 lots.
Similarly, the spice for delivery in September-month gained Rs 9, or 0.68 per cent to Rs 1,323.20 per kg in 2,156 lots.
Traders said building up of fresh positions by speculators on hopes of pick up in demand in the spot market, against restricted arrivals helped cardamom futures prices to rise.
