Cardamom remains weak on profit taking

Cardamom prices fell further by Rs 33.20, or 2.99 per cent, to Rs 1,100 per kg in futures trade today, as speculators preferred to book profits, triggered by subdued demand in the spot market.

Fresh arrivals from producing regions in spot markets also put pressure on the cardamom prices in futures trade.

At the Multi Commodity Exchange counter, cardamom for October contract declined by Rs 33.20, or 2.99 per cent, to Rs 1,100 per kg, with a business turnover of 86 lots.

The spice for delivery in November contract eased by Rs 31.70, or 2.99 per cent, to Rs 1,027.50 per kg, with a trading volume of 52 lots, while September contract moved down by Rs 31.30, or 2.47 per cent, to Rs 1,235 per kg, with an open interest of 58 lots.

Marketmen said, besides profit taking by speculators at existing prices, fall in demand in spot market amid fresh arrivals in spot markets put pressure on cardamom prices at futures trade.