Cardamom down 1.1% on weak demand, higher supply

Cardamom for delivery in August shed 0.77%

Cardamom prices fell by 1.15% to Rs 705 per kg in futures market today as speculators trimmed their positions, driven by weak demand in the spot market against higher supplies from the producing belts.

At the Multi Commodity Exchange, cardamom prices for delivery in July fell by Rs 8.20, or 1.15%, to Rs 705 per kg in business turnover of 158 lots.

Similarly, cardamom for delivery in August shed Rs 5.90, or 0.77%, to Rs 758 per kg in 1,047 lots.

Market analysts attributed the fall in cardamom futures to speculators trimmed their positions on the back of weak demand in the spot market against higher supplies from producing belts.