Cardamom falls 0.74% on profit-booking
Inventory pile-up fuels downtrend
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Cardamom prices fell by 0.74 per cent to Rs 941 per kg in futures trade today as speculators booked profits at prevailing levels, driven by subdued spot demand.
Adequate stocks in the physical market also put pressure on cardamom prices.
At the Multi Commodity Exchange, cardamom for delivery in July declined by Rs 7.10, or 0.74 per cent, to Rs 941 per kg in a business turnover of 48 lots.
June cardamom shed Rs 5.50, or 0.56 per cent, to Rs 961.20 per kg with a trading volume of 147 lots.
Market analysts said profit-booking by speculators at prevailing higher levels and subdued demand in the spot markets against adequate stock position mainly kept pressure on cardamom prices at futures trade.
Adequate stocks in the physical market also put pressure on cardamom prices.
At the Multi Commodity Exchange, cardamom for delivery in July declined by Rs 7.10, or 0.74 per cent, to Rs 941 per kg in a business turnover of 48 lots.
June cardamom shed Rs 5.50, or 0.56 per cent, to Rs 961.20 per kg with a trading volume of 147 lots.
Market analysts said profit-booking by speculators at prevailing higher levels and subdued demand in the spot markets against adequate stock position mainly kept pressure on cardamom prices at futures trade.
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First Published: May 26 2014 | 12:13 PM IST