Cardamom futures hit lower circuit, down 4% on profit-booking

Cardamom prices drifted lower by 4 per cent to hit lower circuit at Rs 1,374.20 per kg in futures market today as traders lightened their positions to book profits amid easing demand in the spot market.
Further, higher supplies from the major producing regions, too put pressure on cardamom prices.
At the Multi Commodity Exchange, cardamom for delivery in December hit lower circuits by plunging Rs 57.20, or 4 per cent, at Rs 1,374.20 per kg, in a business turnover of 76 lots.
Likewise, the spice for delivery in November declined by Rs 30.20, or 2.23 per cent, to Rs 1,325 per kg with trading volume of just five lots.

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