Cardamom extends losses on sluggish spot demand

Adequate stocks in the market also led to losses

Continuing its losing streak for the fifth straight session, cardamom futures prices today fell further by Rs 34.10 to Rs 1,195.20 per kg on sluggish demand in the spot market against adequate stocks position.

Adequate stocks position following increased arrivals from souther producing region also kept pressure on the spices.

At the MCX, cardamom for delivery in June fell further by Rs 34.10, or 2.77% to Rs 1,195.10 per kg in business turnover of 928 lots.

The July contract lost Rs 14.70, or 1.23%, to Rs 1,183.50 per kg in 535 lots.

Market analysts said speculators offloading their positions due to sluggish demand in the spot markets against adequate stocks position mainly led to the fall in cardamom prices at futures market.