Cardamom sheds 1% on sluggish demand

Cardamom prices shed 1.07% to Rs 1,001.10 per kg in the futures market today as speculators reduced their positions, driven by a weak trend at spot market on sluggish demand at prevailing higher levels.

At the Multi Commodity Exchange, April cardamom fell by Rs 10.80, or 1.07%, to Rs 1,001.10 per kg in business turnover of 360 lots.

The March delivery shed Rs 3.20, or 0.33%, to Rs 955 per kg in 862 lots.

Market analysts said speculators reduced their positions on the back of weak trend at spot market on subdued demand a prevailing higher levels mainly helped cardamom futures to trade lower.