Cardamom extend losses on profit taking

Cardamom futures prices fell by Rs 33.90 to Rs 1,165 per kg today, as speculators preferred to book profits, triggered by a subdued demand in the spot market.

Increased arrivals from the producing regions also put pressure on the cardamom prices in futures trade.     

At the Multi Commodity Exchange platform, cardamom for December contract declined by Rs 33.90, or 2.82 per cent, to Rs 1,165 per kg, with a business turnover of 110 lots.     

The spice for delivery in January contract fell by Rs 21.30, or 1.67 per cent to Rs 1,252 per kg, with a trading volume of 288 lots, while February contract eased by Rs 14.90, or 1.13 per cent, to Rs 1,300 per kg, with a business turnover of 44 lots.

Marketmen said besides profit taking by speculators at existing prices, fall in demand in spot market also put pressure on cardamom prices at futures market.