Cardamom declines on sluggish demand

Adequate supplies put pressure on prices

Amid sluggish spot demand, cardamom prices declined by Rs 10.70 to Rs 1,339 per kg in futures trading today as speculators reduced their holdings.

Adequate stocks position at spot markets following increased arrivals from producing belts also put pressure on cardamom prices.

At the MCX, cardamom for delivery in June declined by Rs 10.70, or 0.79%, to Rs 1,339 per kg in business turnover of 663 lots.

The July contract shed Rs 9, or 0.67%, to Rs 1,329.40 per kg in 108 lots.

Market analysts said sluggish demand in the spot markets against adequate stocks availability mainly influenced cardamom prices at futures trade.