Cardamom futures drop 4 pc on muted demand

Cardamom prices tumbled by 4 per cent to hit lower circuit at Rs 1,190.80 per kg in futures market today, driven by easing demand at spot market against adequate stocks position.
Moreover, sentiment weakened further as traders booked profits at prevailing high levels and higher arrivals from producing regions.
At the Multi Commodity Exchange, cardamom for delivery in October tumbled by Rs 49.90, or 4 per cent, to Rs 1,199.80 per kg, in a business turnover of 104 lots.
The spice for delivery in far-month November weakened by Rs 48.80, or 4 per cent, to Rs 1,171.70 per kg in 50 lots.

Traders said offloading of positions by participants amid sluggish demand in spot market against adequate stocks position on higher supplies from producing belts mainly led to decline in cardamom prices at futures trade.