 "Cardamom down 2.4% on profit-bookings")
Cardamom prices fell by 2.47% to Rs 744 per kg in futures trade today as speculators booked profits at prevailing higher levels, driven by subdued demand in the spot market.
Adequate stocks availability in the physical market on account of higher supply from the producing belts also put pressure on the cardamom prices.
At the Multi Commodity Exchange, cardamom for delivery in July declined by Rs 18.90, or 2.47%, to Rs 744 per kg, with a business turnover of 1,693 lots.
Market analysts said subdued demand in the spot market against adequate stocks position mainly kept pressure on the cardamom prices at futures trade.
They said, sentiment weakened further as the traders booked profits at the prevailing levels in the midst of a subdued demand for the commodity.
Adequate stocks availability in the physical market on account of higher supply from the producing belts also put pressure on the cardamom prices.
At the Multi Commodity Exchange, cardamom for delivery in July declined by Rs 18.90, or 2.47%, to Rs 744 per kg, with a business turnover of 1,693 lots.
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Likewise, cardamom for delivery in August shed Rs 10.70, or 1.36% to Rs 773.60 per kg, with a trading volume of 1,080 lots.
Market analysts said subdued demand in the spot market against adequate stocks position mainly kept pressure on the cardamom prices at futures trade.
They said, sentiment weakened further as the traders booked profits at the prevailing levels in the midst of a subdued demand for the commodity.
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