Cardamom futures fall by 0.69% on profit booking

Cardamom futures prices fell further by Rs 7.90 to Rs 1,128 per kg today as speculators booked profits at existing high levels, amid sluggish demand at the spot market.

At the Multi Commodity Exchange, cardamom for delivery in May slipped by Rs 7.90, or 0.69 per cent, to Rs 1,128 per kg, with a trading volume of 16 lots.

Similarly, the spice for delivery in April declined by Rs 5.10, or 0.45%, to Rs 1,120 per kg, with a trading volume of 107 lots, while July delivery prices fell by Rs 3.50, or 0.31%, to Rs 1,118 per kg, with a business volume of three lots.

Market analysts said besides profit booking by speculators at existing high levels, fall in demand in the spot market led to the decline in cardamom futures prices.

Adequate stocks in the physical markets, following increased arrivals from the producing regions also put pressure on prices, they added.