Cardamom down 1.5% on sluggish demand

Adequate stocks influence prices

Cardamom prices slid by Rs 13.60 to Rs 894.50 per kg in futures trade today as speculators trimmed positions, tracking a weak trend at the spot market on sluggish demand at prevailing higher levels.

Adequate stocks availability in the physical market due to higher supply from producing belts put pressure on cardamom prices.

At the Multi Commodity Exchange, cardamom for delivery in October moved down by Rs 13.60, or 1.50%, to Rs 894.50 per kg, with a business turnover of 1,554 lots.

November cardamom shed Rs 10.70, or 1.18%, to Rs 898 per kg, with a business turnover of 696 lots.

 

Marketmen said speculators offloaded their positions on the back of sluggish spot demand at prevailing higher levels, which kept pressure on cardamom futures.