Cardamom falls 0.9% on profit-booking

Subdued demand in the spot market also kept pressure on cardamom prices

Cardamom prices fell by 0.90% to Rs 702.30 per kg in futures trade today as speculators booked profits at prevailing levels amid subdued demand in the spot market.

 

Adequate stocks in the physical market also put pressure on the cardamom prices.

 

At the Multi Commodity Exchange, cardamom for delivery in August declined by Rs 6.40, or 0.90%, to Rs 702.30 per kg in business turnover of 688 lots.

 

Likewise, the spice for delivery in the September contract shed Rs 4.30, or 0.55%, to Rs 776.20 per kg with trading volume of 304 lots.

 

Market analysts said profit-booking by speculators at prevailing higher levels and subdued demand in the spot market mainly kept pressure on the cardamom prices at futures trade.