Cardamom sheds 3.8% on sluggish demand

Speculators reduce holdings on low offtake and stock build-up

Cardamom prices tumbled by 3.79% to Rs 654.40 per kg in futures trading today as speculators reduced their holdings driven by sluggish demand in the spot market.

     

At the Multi Commodity Exchange, cardamom for delivery in December tumbled by Rs 25.80, or 3.79% to Rs 654.40 per kg in business turnover of 501 lots.

 

The January contract traded lower by Rs 2.80, or 0.39% to Rs 724 per kg in 458 lots.

 

Analysts said speculators reduced their holdings due to sluggish demand in the spot market against adequate stocks position mainly pulled down cardamom prices at futures trade.