Cardamom futures extend slide, shed 1.15% on low demand

Continuing its losing streak for the second day, cardamom prices eased further by 1.15 per cent to Rs 1,357.10 per kg in futures market today as traders engaged in reducing their positions, taking weak cues from spot market.
Besides, ample stocks position in the physical market on increased supplies from the major cardamom producing regions too fuelled the downtrend.
At the Multi Commodity Exchange, cardamom for delivery in February 2017 fell Rs 15.80, or 1.15 per cent, to Rs 1,357.10 per kg, in a business turnover of five lots.
The spice for delivery in January 2017 was trading down by Rs 9.50, or 0.70 per cent, to Rs 1,333.50 per kg, with a trading volume of 81 lots.

Analysts said trimming of positions by participants owing to sluggish domestic as well as exports demand in the spot market against adequate stocks position, kept cardamom prices lower at futures trade.