Cardamom weakens 1.23% on profit-booking

Cardamom prices fell by Rs 7.90, or 1.23% to Rs 635 per kg in futures trade today due to profit-booking by speculators amid adequate stocks in the physical market.

At the Multi Commodity Exchange, cardamom for March delivery declined by Rs 7.90, or 1.23%, to Rs 635 per kg, with a business turnover of 26 lots.

The February contract shed Rs 5, or 0.80%, to Rs 613.70 per kg, with a trading volume of 94 lots.

Marketmen said profit booking by speculators at existing higher prices and sufficient stocks positions at spot markets, put pressure on cardamom prices at futures market.