Cardamom turns weak on sluggish demand

Weak trend on the spot market dragged prices

Snapping a four-day rising streak, cardamom prices fell by Rs 14.90 to Rs 1,220.60 per kg in futures trade today as speculators reduced their positions at prevailing higher levels.

Further, a weak trend at spot market on sluggish demand also put pressure on cardamom futures.

At the MCX, cardamom for delivery in July fell by Rs 14.90, or 1.21%, to Rs 1,220.60 per kg, with a business turnover of 703 lots.

The June contract lost Rs 9.30, or 0.74%, to Rs 1,242 per kg, with a business turnover of 27 lots.

Market analysts said speculators offloaded their positions on sluggish demand in the spot markets against adequate stocks position, which led to the fall in cardamom prices at futures trade.