Cardamom declines 0.64% on sluggish demand

Traders pare positions on stock pile-up in physical market

Cardamom prices fell 0.64 per cent to Rs 954 per kg in futures trade today after speculators reduced position on a weak trend at spot markets.

Besides, adequate stocks position in the physical market on increased arrivals from producing belts put pressure on cardamom prices.

At the Multi Commodity Exchange, cardamom for delivery in July traded lower by Rs 6.10, or 0.64 per cent, to Rs 954 per kg in a business turnover of 116 lots.

The August contract shed Rs 4.50, or 0.48 per cent, to Rs 923.50 per kg in 26 lots.

Market analysts attributed the fall in cardamom futures to subdued demand in the spot market against adequate stocks position.