Cardamom sheds 0.89% on low spot demand

Traders pare positions as higher arrivals from producing regions fuel downtrend

Cardamom prices were down by 0.89 per cent to Rs 869.10 per kg in futures trade today as speculators reduced positions amid low demand in the spot market against higher supplies from producing belts.

At the Multi Commodity Exchange, cardamom for delivery in December declined by Rs 7.80, or 0.89 per cent, to Rs 869.10 per kg in a business turnover of 283 lots.

The January contract traded lower by Rs 6.70, or 0.74 per cent, to Rs 896.80 per kg in 27 lots.

Analysts said offloading of positions by speculators amid low demand in the spot market against higher supplies from producing regions mainly pulled down cardamom prices in futures trade.