Cardamom turns weak in futures trade on sluggish demand

Cardamom prices declined by Rs 14.20 to Rs 837 per kg in futures trade today as speculators reduced their positions due to sluggish demand at existing higher levels.

At the Multi Commodity Exchange, cardamom for October delivery declined by Rs 14.20, or 1.67%, to Rs 837 per kg, with a business turnover of 256 lots. 

Similarly, the spice for September delivery lost Rs 10.90, or 1.36%, to Rs 793.10 per kg, with an open interest of 891 lots. 

Analysts said sluggish demand at prevailing levels against adequate stocks position in the physical market, mainly led to a fall in cardamom prices in futures trade.