Cardamom futures hit lower circuit,plunge 6% on profit booking

Cardamom prices tumbled 6 per cent to hit lower circuit and closed at Rs 673.90 per kg today after speculators booked profits at prevailing higher levels amid muted spot demand.
Sufficient stocks position in the physical market also weighed on prices.
At the Multi Commodity Exchange, cardamom for November contracts fell sharply by Rs 43, or 6 per cent, to hit lower circuit at Rs 673.90 per kg, with a business turnover of 573 lots.
The spice for delivery in December fell by Rs 10.50, or 1.38 per cent, to Rs 750 per kg, with a trading volume of 1,031 lots.

Marketmen said besides profit-taking by speculators at existing prices, fall in demand in spot markets dragged down cardamom prices to hit lower circuit at futures trade.