Cardamom down 1.1% on low demand

Spice for delivery in January declined by 1.08%

Cardamom extended losses for the third straight day with prices falling by another 1.16% to Rs 715 per kg in futures trading today as speculators reduced holdings amid low demand in the spot market against higher supplies from producing regions.

At the Multi Commodity Exchange, cardamom for delivery in February fell by Rs 8.40, or 1.16% to Rs 715 per kg in business turnover of 164 lots.

Similarly, the spice for delivery in January declined by Rs 7.50, or 1.08% to Rs 685.40 per kg in 735 lots.

Market analysts said speculators reduced their holdings driven by low demand in the spot market against higher supplies from producing regions mainly kept pressure on cardamom prices at futures trade.