Cardamom futures decline 0.20% on profit booking

Cardamom prices declined by Rs 3.20, or 0.20 per cent, to Rs 1,609 per kg in futures trading today after speculators booked profits amid slackness in demand at existing higher levels.

Increased arrivals in the physical market from producing belts also put pressure on cardamom prices at the futures trade.

At the Multi Commodity Exchange counter, cardamom for September month contract declined by Rs 3.20, or 0.20 per cent,to Rs 1609 per kg with an open interest of 2,332 lots.

Similarly, the spice for delivery in July month lost Rs 2.50, or 0.13 per cent, to Rs 1,854 per kg in 2582 lots.

Analysts said profit-booking by speculators and fall in demand against increased arrivals in the physical market were the reasons behind the fall in cardamom prices at futures trade.