Cardamom remains weak on profit booking

Cardamom prices fell by Rs 37.60, to Rs 1,605.10 per kg, in futures trade today, as speculators preferred to book profits, following subdued demand in the spot market.

Higher arrivals from the producing regions also weighed down on the cardamom prices in futures trade.

At the Multi Commodity Exchange counter, cardamom for delivery in March declined by Rs 37.60, or 2.29 per cent, to Rs 1,605.10 per kg, with an open interest of 83 lots.

The spice for delivery in February declined by Rs 36.40, or 2.24 per cent, to Rs 1,592.10 per kg, with a business volume of 373 lots. While delivery in January eased by Rs 29.40 or 1.84 per cent, to Rs 1,566 per kg, with a business turnover of 661 lots.

Market analysts said, besides profit taking by speculators at existing higher prices, fall in demand in the spot market also put pressure on cardamom futures prices.