Cardamom futures decline on sluggish demand

Cardamom prices declined by Rs 9.80 to Rs 865.50 per kg in futures trade today as speculators reduced their positions amid sluggish demand at existing higher levels.

At the Multi Commodity Exchange, cardamom for November delivery declined by Rs 9.80, or 1.12%, to Rs 865.50 per kg in business turnover of nine lots.

September contract shed Rs 7.30, or 0.92%, to Rs 786 per kg in 185 lots.

Analysts said sluggish demand at prevailing higher levels against adequate stocks position in the physical market, mainly led to a decline in cardamom prices in futures trade.