Muted demand drags down cardamom futures 1.36%

Cardamom prices fell by 1.36 per cent to Rs 781.10 per kg in futures trade today as traders cut down their bets, driven by a decline in demand in the spot market against adequate stocks position.
At the Multi Commodity Exchange, cardamom for delivery in May drifted lower by Rs 10.80, or 1.36 per cent to Rs 781.10 per kg in a business turnover of 27 lots.
Similarly, the spice for delivery in far-month June shed Rs 1.60, or 0.19 per cent to Rs 852 per kg in 41 lots.
Traders said trimming of positions by participants amid sluggish demand in the spot market against sufficient stocks on higher supplies from producing belts mainly led to the fall in cardamom prices at futures trade.