Cardamom futures fall on profit booking

Snapping a four-day long rising streak, cardamom prices tumbled by Rs 48.20 or 2.82 per cent to Rs 1,665.90 per kg in futures market today, as speculators booked profits at existing higher levels.

Fresh arrivals at spot markets from the producing belts also put pressure on cardamom prices in futures trade.

At the Multi Commodity Exchange, cardamom for August contract plunged Rs 48.20, or 2.82 per cent to Rs 1,665.90 per kg, with an open interest of 1,197 lots.

Similarly, the spice for delivery in June contract also lost Rs 13.10, or 0.64 per cent to Rs 2,025.10 per kg, with an open interest of 1,496 lots.

Analysts said profit taking by speculators at existing higher levels led to a fall in cardamom prices in futures trade.