Cardamom sheds 1.7% on subdued demand

Traders offload positions as inventories swell up in physical market, forcing downward trend in futures

Cardamom prices fell by Rs 16.40 to Rs 929.30 per kg in futures trade today as speculators offloaded their holdings due to subdued spot demand at prevailing increased levels.

At the Multi Commodity Exchange, cardamom for delivery in March declined by Rs 16.40, or 1.73 per cent, to Rs 929.30 per kg in a business turnover of 972 lots.     

The April contract traded lower by Rs 16.60, or 1.68 per cent, to Rs 968.10 per kg with trading volume of 269 lots.     

Market analysts said off-loading of positions by traders amid a weak spot market trend on subdued demand mainly led to a fall in cardamom futures prices.

Adequate stocks position in the physical market also influenced trading in cardamom prices, they said.