Cardamom declines on sluggish demand

Adequate stocks in the market maintained the pressure on prices

Cardamom futures prices today declined by Rs 4 to Rs 1,293.90 per kg as speculators offloaded their positions due to sluggish spot demand.

Adequate stocks availability in the physical market also kept pressure on cardamom futures prices.

At the MCX, cardamom for delivery in July declined by Rs 4, or 0.31%, to Rs 1,293.90 per kg in business turnover of 61 lots.

The June contract shed Rs 4, or 0.30%, to Rs 1,335 per kg in 131 lots.

Market analysts said speculators offloading their positions on the back of sluggish demand in the spot market against adequate stocks position mainly influenced cardamom prices at futures trade.