Cardamom down 1% on sluggish demand

Cardamom prices fell by Rs 7.40 to Rs 749.80 per kg in futures trade today as speculators reduced their positions, influenced by sluggish demand in the spot market at existing higher levels.

At the Multi Commodity Exchange, September cardamom declined by Rs 7.40, or 0.98%, to Rs 749.80 per kg, with a business turnover of 240 lots.

October delivery shed Rs 6.50, or 0.81%, to Rs 796.90 per kg in 98 lots.

Analysts said sluggish demand at prevailing higher levels, coupled with adequate stock availability in physical markets, mainly led to the decline in cardamom prices.