Cardamom extends weakness on adequate stocks

November and December contracts shed 0.5% as participants trim positions

Cardamom prices fell further by 0.55 per cent to Rs 828 per kg in futures trading today as participants trimmed positions, triggered by adequate stocks position at spot market on higher supplies from producing regions.

At the Multi Commodity Exchange, cardamom for delivery in December fell Rs 4.60, or 0.55 per cent, to Rs 828 per kg, in a business turnover of 11 lots.

On similar lines, the spice for delivery in November shed Rs 3.80, or 0.47 per cent, to Rs 804.30 per kg in 144 lots.

Market analysts said offloading of positions by traders, driven by sufficient stocks in the physical market on higher supplies from producing belts against subdued demand, mainly kept cardamom prices lower at futures trade.