Cardamom futures decline 0.68% on profit taking

Cardamom prices declined by Rs 7.50 to Rs 1,094 per kg in futures trade today as speculators booked profits, amid sluggish demand at the spot markets.

Adequate stocks in the physical markets following increased arrivals from the producing regions also put pressure on cardamom futures prices.

At the Multi Commodity Exchange, cardamom for delivery in April declined by Rs 7.50, or 0.68%, to Rs 1,094 per kg, with a business turnover of just two lots.

Likewise, the prices for delivery in May traded marginally lower by 90 paise, or 0.08%, to Rs 1,128 per kg, with an open interest of just one lot.

Market analysts said continued profit taking by speculators at prevailing high prices, sluggish spot demand helped cardamom futures prices to trade lower.