Cardamom futures plunge on sluggish demand

Cardamom futures prices plunged by Rs 28.80 to Rs 1,181.30 per kg today, due to sluggish demand in the spot market.  

Adequate stocks, following increased arrivals in the physical market from Southern producing regions fueled the downtrend in cardamom futures prices.

At the Multi Commodity Exchange, cardamom for June contract plunged by Rs 28.80, or 2.38 per cent, to Rs 1,181.30 per kg, with a trade volume of just one lot.

Likewise, the spice for delivery in April lost Rs 18.20, or 1.21 per cent, to Rs 1,190 per kg, with a trade volume of just one lot, while spice for March contract shed Rs 6.40, or 0.55 per cent, to Rs 1,165 per kg, with a business turnover of just two lots. 

Market analysts said sluggish demand in the spot market, against adequate stocks led to the fall in cardamom prices at futures trade.