Cardamom declines 1.5% on profit-booking

Adequate stocks, subdued demand influence prices

Cardamom prices fell by Rs 14.90 to Rs 972.20 per kg in futures trade today as speculators booked profits amid fall in demand in the spot market.

Adequate stocks availability in the physical market following higher arrivals from producing regions put pressure on cardamom prices.

At the Multi Commodity Exchange, cardamom for delivery in October fell by Rs 14.90, or 1.51%, to Rs 972.20 per kg, with a business turnover of 1,304 lots.

November cardamom lost Rs 9.20, or 0.91%, to Rs 997.30 per kg, with a business turnover of 330 lots.

Marketmen said besides profit-booking by speculators, fall in spot market demand influenced cardamom prices at futures trade.