Cardamom futures down over 2% on profit booking

Cardamom prices declined by Rs 28.90 to Rs 1,116.40 per kg in futures trading today as speculators booked profits, driven by weak spot market trend due to sluggish demand. 

At the Multi Commodity Exchange, cardamom for delivery in May contract declined by Rs 28.90, or 2.52 per cent, to Rs 1,116.40 per kg, with a business turnover of a single lot.

Similarly, the spice for delivery in April lost Rs 26.70, or 2.35 per cent, to Rs 1,110.50 per kg, with an open interest of just one lot.  

Market analysts said besides profit booking by speculators, subdued demand in the spot market also put pressure on the cardamom futures prices.