NEW DELHI, July 16: Cardamom prices surged 4 per cent to hit an upper circuit at Rs 1,084.20 per kg in futures trade today as participants built up huge positions amid pick-up in demand.
Besides, reports of damage to standing crops and anticipation of delay in supplies of the fresh crops amid heavy monsoon also fuelled the upward momentum.
At the Multi Commodity Exchange, cardamom for delivery in August contract was trading higher by Rs 41.70, or 4 per cent, to hit an upper limit at Rs 1,084.20 per kg in a business turnover of 34 lots.
For September, the spice traded higher by Rs 30, or 2.94 per cent, to Rs 1,052 per kg with trading volume of just one lot.
Analysts said fresh positions created by traders backed by reports of damage to standing crops and a likely delay in supplies of fresh crop lifted cardamom prices notably. (PTI)
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