Cardamom prices zoomed by Rs 51.80, or 4 per cent to hit the daily upper limit at Rs 1,346.40 per kg in futures trade today, as speculators enlarged their positions, supported by pick up in demand.
Restricted arrivals from producing regions also buoyed the sentiment, lifting cardamom prices sharply higher.
At the Multi Commodity Exchange counter, cardamom for January-month surged by Rs 51.80, or 4.00 per cent, to Rs 1,346.40 per kg, with a business volume of single lot.
In a similar fashion, the spice for delivery in December shot up by Rs 45.60 or 3.51 per cent to Rs 1,344.20 per kg, with an open interest of just one lot.
Traders said firming trend at spot market due to the ongoing marriage season demand amid decline in arrivals from producing regions helped cardamom prices to hit the upper limit of four per cent in futures trade today.
