Cardamom extend losses, down 2.25% on subdued demand

Adequate stocks in the physical market put pressure on prices

Cardamom prices fell by Rs 26.70 to Rs 1,158.10 per kg in futures trade today as speculators engaged in reducing their positions, tracking a weak trend at spot markets on subdued demand.

Adequate stocks availability in the physical market also put pressure on cardamom prices.

At the MCX, cardamom for delivery in August fell by Rs 26.70, or 2.25%, to Rs 1,158.10 per kg, with a business turnover of 186 lots.

The July contract declined by Rs 17.60, or 1.44%, to Rs 1,204 per kg, with an open interest of 1,418 lots.

Market analysts said the fall in cardamom at futures trade was mostly due to off-loading of positions by speculators on weak trend at spot markets on subdued demand against adequate stocks.