Cardamom futures drop 1.49 pc on profit-booking

Cardamom prices moved down by 1.49 per cent to Rs 1,338.40 per kg in futures trading today as speculators booked profits at prevailing levels, driven by easing demand in the spot market against adequate stocks.
At the Multi Commodity Exchange, cardamom for delivery in far-month February fell by Rs 20.20, or 1.49 per cent to Rs 1,338.40 per kg in a business turnover of 1 lot.
Similarly, the spice for delivery in January traded lower by Rs 11.10, or 0.84 per cent to Rs 1,316.60 per kg in 31 lots.
Analysts said, besides profit-booking by participants at existing levels, fall in demand in the spot market against ample stocks position on higher supplies from producing regions mainly led to the decline in cardamom prices at futures trade.