Cardamom down 4% on profit-booking

Increased arrivals, subdued demand influence prices

Cardamom hit lower circuit today with prices falling by 4% in futures trade after speculators indulged in booking profits amid subdued demand in the spot market.

At the Multi Commodity Exchange, cardamom for October plunged by Rs 44.70, or 4%, to hit lower circuit at Rs 1,072.80 per kg, with a business turnover of 549 lots.

September cardamom declined by Rs 43.90, or 4%, to Rs 1,052.60 per kg, with a trading volume of 1,052.60 lots.

Marketmen said profit-booking by speculators at existing higher prices and increased arrivals from the producing regions put pressure on cardamom prices at futures trade.