Cardamom down 2.66% on sluggish demand

Adequate stocks influence prices

Cardamom prices moved down by 2.66% to Rs 892.50 per kg in futures trade today as traders reduced positions, tracking a weak spot market trend on sluggish demand.

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

At the Multi Commodity Exchange, cardamom for delivery in October fell by Rs 24.40, or 2.66%, to Rs 892.50 per kg, with a business turnover of 82 lots.

November cardamom moved down by Rs 3.90, or 0.43%, to Rs 901.90 per kg, with a business turnover of 96 lots.

Marketmen said apart from a weak trend at spot market on sluggish demand, adequate stocks position influenced cardamom prices at futures trade.