Cardamom down 2.1% on profit-booking

Cardamom for delivery in July contract lost 1.91%

Cardamom prices plunged 2.12% to Rs 781 per kg in futures trading today as speculators booked profits at prevailing higher levels, driven by a fall in demand in the spot market against adequate stocks positions.

At the Multi Commodity Exchange, cardamom for delivery in August month plunged by Rs 16.90, or 2.12% to Rs 781 per kg in business turnover of 558 lots.

Likewise, cardamom for delivery in July contract lost Rs 14.80, or 1.91% to Rs 760.70 per kg in 1376 lots.

Market analysts said profit-booking by speculators at prevailing higher levels amid fall in demand in the spot market against adequate stocks position mainly pulled down cardamom prices at futures trade.