Cardamom plunges 4%, hits lower circuit
Subdued spot demand, increased arrivals influence prices
Cardamom futures prices today remained under pressure on increased supplies and fell further by 4% to hit lower circuit at Rs 1,137.80 per kg.
Subdued spot demand also kept pressure on the condiment's prices.
At the Multi Commodity Exchange, cardamom for delivery in August remained under pressure and tumbled further by Rs 47.40, or 4%, to Rs 1,137.80 per kg in a business turnover of 45 lots.
It had lost 4% yesterday.
September cardamom lost Rs 19.30, or 1.62%, to Rs 1,175.10 per kg in 391 lots.
Marketmen said supply pressure in the physical market on increased arrivals from producing belts kept pressure on cardamom futures prices.