Cardamom down over 1% on weak demand

Spice for delivery in August contract traded lower by 0.72%

Cardamom extended losses for the second day and prices fell further by 1.15% at Rs 909 per kg in futures trading today as speculators reduced their holdings on account of sluggish demand in the spot market.

Adequate stocks position in the physical market on higher supplies from producing regions further fuelled the downtrend.

At the Multi Commodity Exchange, cardamom for delivery in July fell further by Rs 10.60, or 1.15%, to Rs 909 per kg in business turnover of 299 lots.

In a similar fashion, the spice for delivery in August contract traded lower by Rs 5.60, or 0.72%, to Rs 888.50 per kg in 18 lots.
 
Analysts said besides sluggish demand in the spot market, adequate stocks on increased arrivals from producing regions mainly kept pressure on cardamom prices to trade lower in futures trade.