Cardamom falls 2.2% on profit-booking

Cardamom prices fell by 2.16% to Rs 723.30 per kg in futures trade today as speculators indulged in booking profits at prevailing higher levels, driven by a weak demand in the spot market.

 

Adequate stocks availability in the physical market on increased arrivals from producing regions also put pressure on cardamom.

 

At the Multi Commodity Exchange, cardamom for delivery in August fell by Rs 16, or 2.16%, to Rs 723.30 per kg in business turnover of 1291 lots.

 

Likewise, the spice prices for delivery in September traded lower by Rs 1.50, or 0.19%, to Rs 770.50 per kg in 299 lots.

 

Market analysts attributed the fall in cardamom futures to profit-bookings by speculators at prevailing higher levels, weak demand in the spot market.