Muted demand drags down cardamom futures 1.13%

Cardamom futures slipped 1.13 per cent to Rs 692.60 per kg in futures trade today as participants trimmed positions amid sluggish demand at the spot market.
Besides, adequate stocks in the physical market on higher supplies from producing region and weak exports demand put pressure on cardamom prices.
At the Multi Commodity Exchange, cardamom for delivery in January 2016 fell by Rs 7.90, or 1.13 per cent to Rs 692.60 per kg in business turnover of 43 lots.
On similar lines, the spice for delivery in February contracts traded lower by Rs 5.40, or 0.73 per cent to Rs 736.10 per kg in 8 lots.

Analysts said offloading of positions by traders due to tepid demand in the spot market, mainly led to decline in cardamom prices at futures trade.