Supported by strong demand in spot market, cardamom futures prices hit the daily upper limit of four per cent today, as speculators extended their positions on expectations of rise in demand.
Tight stocks in physical market followed by fall in supply from the producing belts also influenced the cardamom prices at futures market here.
At the Multi Commodity Exchange counter, cardamom for current-month August contract surged by Rs 65.90, or 4 per cent, to Rs 1,712.90 per kg, with a turnover of 32 lots.
Similarly, the delivery in September and October contract also spurted by four per cent to Rs 1,394.70 and Rs 1,228.90 per kg, respectively.
Market analysts said continued rise in cardamom futures prices was due to a firming trend in spot markets and rising domestic and exports demand.
