Cardamom extends losses on low demand

Traders offload positions as spice sheds up to 0.3% in futures market

Cardamom prices fell by 0.30 per cent to Rs 886.50 per kg in futures trade today as speculators indulged in offloading positions amidst sluggish demand in the spot market.

At the Multi Commodity Exchange, cardamom for delivery in January 2015 eased by Rs 2.70, or 0.30 per cent, to Rs 886.50 per kg in a business turnover of five lots.

The December contract traded lower by Rs 2.30, or 0.27 per cent, to Rs 860.70 per kg in 130 lots.

Market analysts said offloading of positions by speculators, driven by sluggish demand in the spot market against adequate stocks position, mainly kept pressure on cardamom prices at futures trade.