Cardamom plunges 2.5% on profit-booking

Higer arrivals from producing regions put pressure in futures market

Cardamom prices lost Rs 20, or 2.51 per cent, to Rs 775.50 per kg in futures trade today as speculators booked profits at prevailing higher levels amid fall in demand in the spot market.

Increased arrivals from producing regions also put pressure on cardamom futures.

At the Multi Commodity Exchange, cardamom for delivery in November plunged by Rs 20, or 2.51 per cent, to Rs 775.50 per kg, with a business turnover of 187 lots.

The December contract lost Rs 16.20, or 1.88 per cent, to Rs 861.20 per kg, with a business turnover of 965 lots.

Marketmen said besides profit-booking at prevailing higher levels, fall in demand in the spot market mainly pulled down cardamom prices at futures market.