Cardamom weakens 0.24% on profit-booking

Adequate stocks influence prices

Cardamom prices fell by Rs 2.20 to Rs 913.10 per kg in futures market today as speculators indulged in booking profits amid sluggish demand at prevailing higher level in the spot market.

Adequate stocks position following increased arrivals from producing belts put pressure on cardamom prices.

At the Multi Commodity Exchange, cardamom for delivery in December declined by Rs 2.20, or 0.24%, to Rs 913.10 per kg, with a business turnover of 66 lots.

November cardamom shed Rs 1.30, or 0.15%, to Rs 845.90 per kg, with a business turnover of 530 lots.

Marketmen said besides profit-taking by speculators at existing higher levels, sluggish demand in the spot market influenced cardamom futures.