Cardamom slides 1.2% on profit-booking

Weak spot demand, adequate stocks behind fall

Cardamom futures prices today fell by 1.20% to Rs 1,279 per kg due to profit-booking by speculators, owing to a weak trend at the spot market on subdued demand.

At the Multi Commodity Exchange, cardamom for delivery in September fell by Rs 15.50, or 1.20%, to Rs 1,279 per kg in a business turnover of 13 lots.

The October contract shed Rs 12.80, or 1.01%, to Rs 1,260.10 per kg in seven lots.

Market analysts said profit-booking by speculators, driven by a weak trend at the spot market on weak demand against adequate stocks position, kept pressure on cardamom futures.