Cardamom prices surged by Rs 22.40 to Rs 1,313.80 per kg in futures trade today as speculators created fresh positions amid lower output concerns and firming export demand.
Covering-up of short positions also supported the upside in cardamom futures prices.
At the MCX, cardamom for delivery in July shot up by Rs 22.40, or 1.73%, to Rs 1,313.80 per kg in business turnover of 190 lots.
The June contract jumped up by Rs 15.10, or 1.14% to Rs 1,331.40 per kg in 612 lots.
Traders said besides lower production concerns on adverse weather, firming export demand mainly and restricted supplies in spot markets, attributed rise in cardamom prices at futures trade.
Meanwhile, the next crop is expected to decline by 35-40%.
