Cardamom turns weak on profit taking

Cardamom prices fell by Rs 18, to Rs 1,004 per kg, in futures trade today, as speculators preferred to book profits, triggered by subdued demand in the spot market.

Increased arrivals from the producing regions also put pressure on the cardamom prices in futures trade.

At the Multi Commodity Exchange counter, cardamom for December contract declined by Rs 18, or 1.76 per cent, to Rs 1,004 per kg, with a business turnover of seven lots.

The spice for delivery in November contract eased by Rs 18.30, or 1.74 per cent, to Rs 1,028 per kg, with a trading volume of 38 lots, while October contract moved down by Rs 13.20, or 1.25 per cent, to Rs 1,039.70 per kg, with an open interest of 145 lots.

Marketmen said, besides profit taking by speculators at existing prices, fall in demand in spot market also put pressure on cardamom prices at futures market.