Cardamom weakens 3% on profit-booking
Adequate stocks, subdued demand influence prices
Cardamom remained weak and prices fell by Rs 29.10 to Rs 917.50 per kg in futures trade today after speculators booked profits amid subdued demand in the spot market.
Adequate stocks following increased arrivals from producing belts put pressure on cardamom.
At the Multi Commodity Exchange, cardamom for delivery in November fell by Rs 29.10, or 3.07%, to Rs 917.50 per kg, with a business turnover of 400 lots.
October cardamom declined by Rs 23.50, or 2.48%, to Rs 922.40 per kg, with an open interest of 1,201 lots.
Marketmen said besides profit-booking at existing levels, subdued demand in the spot market mainly influenced cardamom prices at futures market.