Cardamom futures soften by 0.54% on profit booking

Cardamom prices drifted lower by 0.54 per cent to Rs 1,170 per kg in futures trade today as speculators booked profits at prevailing levels amid easing demand at spot market.
Besides, ample stocks position on higher arrivals from the major cardamom producing regions too weighed on the prices.
At the Multi Commodity Exchange, cardamom for delivery in March was trading lower by Rs 6.40, or 0.54 per cent, to Rs 1,170 per kg in business turnover of 8 lots.
Traders said besides profit-booking by participants, decline in demand in the physical market against adequate stocks position on higher supplies from producing regions, mainly weighed on cardamom futures.