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Continued its winning streak for the fourth straight day, cardamom prices surged by 2.75% to Rs 1,060 per kg in futures trade today as speculators engaged in enlarging positions amid strong domestic and export demand in the spot markets.
Further, tight stocks position in the physical market following restricted arrivals from producing regions also supported the persistent rise.
At the Multi Commodity Exchange, cardamom for delivery in May spurted by Rs 28.40, or 2.75% to Rs 1,060 per kg in business turnover of 8 lots.
Similarly, the spice for delivery in June contracts shot up by Rs 20.40, or 2.06% to Rs 1012.60 per kg in 544 lots.
Analysts attributed the continued rise in cardamom prices at futures trade to strong domestic and export demand in the spot market.
