Cardamom futures weaken on profit taking

Cardamom prices fell by 34.40 to Rs 1,298 per kg in futures trading today, as traders preferred to book profits, influenced by weak trend in the spot market.

Increased arrivals from the producing regions also weighed down on the cardamom prices in futures trade.

At the Multi Commodity Exchange platform, cardamom for December-month fell by Rs 34.40, or 2.58 per cent to Rs 1,298 per kg, with an open interest of single lot.

In a similar fashion, the spice for delivery in January-month declined by Rs 16.40, or 1.22 per cent to Rs 1,330 per kg, with an open interest of one lot.

Marketmen said, besides profit-taking by speculators at existing higher levels, fall in demand at spot markets also put pressure on cardamom prices at futures market.