Cardamom declines 3% on profit-booking

Sluggish demand, adequate stocks influence prices

Cardamom prices fell 3% to Rs 837.30 per kg in futures trade today as speculators booked profits at prevailing higher levels, driven by sluggish demand in the spot market.

Adequate stocks availability in the physical market influenced cardamom futures.

At the Multi Commodity Exchange, cardamom for delivery in September fell by Rs 25.90, or 3%, to Rs 837.30 per kg, with a business turnover of 1,287 lots.

October cardamom declined by Rs 8.50, or 0.83%, to Rs 1,010 per kg, with a business turnover of 1,044 lots.

Marketmen said besides profit-booking by speculators, sluggish demand in the spot market kept pressure on cardamom prices at futures trade.