Cardamom extends losses on higher supply, weak demand

traders offload positions on higher arrivals from growing regions

Continuing its losing streak for the third straight day, cardamom futures prices fell by 0.81 per cent to Rs 940 per kg today as speculators offloaded positions driven by higher supplies against subdued spot demand.

At the Multi Commodity Exchange, cardamom for delivery in July fell by Rs 7.70, or 0.81 per cent to Rs 940 per kg in business turnover of 158 lots.

The June contract traded lower by Rs 3.90, or 0.40 per cent to Rs 965 per kg in 555 lots.

Analysts said offloading of positions by speculators amid higher supplies from producing regions against sluggish demand in the spot market, mainly kept pressure on cardamom prices at futures trade.