Cardamom sheds 2.6% on profit booking

HIgher inventories in physical market, sluggish spot demand add to pressure on cardamom futures

Cardamom prices fell by 2.62% to Rs 908 per kg in the futures market today as speculators booked profits at prevailing higher levels, driven by sluggish demand in the spot market.

Adequate stocks availability in the physical market also influenced cardamom futures.

At the Multi Commodity Exchange, cardamom for delivery in September fell by Rs 24.40, or 2.62%, to Rs 908 per kg, with a business turnover of 909 lots.

The October contract lost Rs 10, or 0.99%, to Rs 1,003 per kg in 553 lots.

Marketmen said besides profit-booking by speculators, sluggish demand in the spot market mainly kept pressure on cardamom prices at futures trade.