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Cardamom prices surged by Rs 28, or 4% to hit upper circuit at Rs 728.30 per kg in futures trading today as speculators enlarged their positions, driven by a surge in domestic and export demand in the spot market.
Besides, tight stocks in the physical market following restricted arrivals from producing regions also supported the uptrend.
At the Multi Commodity Exchange, cardamom for delivery in August spurted by Rs 28, or 4% to hit upper circuit at Rs 728.30 per kg in business turnover of 152 lots.
Similarly, the spice for delivery in September traded higher by Rs 3.70, or 0.42% to Rs 792 per kg in 452 lots.
Traders said besides strong domestic and export demand in the spot market, tight supplies on restricted arrivals from producing regions also helped cardamom to hit upper limit of 4% at futures trade.
