Cardamom falls 2% on profit-booking

Adequate stocks influence prices

Cardamom prices fell by Rs 17.30, or 2%, to Rs 846.50 per kg in futures trade today, as speculators engaged in booking profits amid subdued spot market demand.

Adequate stocks following increased arrivals from producing regions put pressure on cardamom futures prices.

At the Multi Commodity Exchange, cardamom for delivery in November fell by Rs 17.30, or 2%, to Rs 846.50 per kg, with a business turnover of 927 lots.

December cardamom declined by Rs 13.30, or 1.46%, to Rs 895 per kg, with a business turnover of 160 lots.

Marketmen said besides profit-booking at existing higher levels, a fall in demand in the spot market put pressure on cardamom prices.