Cardamom weakens by 2.3% on profit-booking

Profit-booking by speculators at prevailing higher levels, subdued demand affected the prices

Cardamom fell by Rs 15.50 to Rs 658.70 per kg in futures trade today as speculators booked profits at existing levels amid weak spot demand.

 

At the Multi Commodity Exchange, cardamom for delivery in August declined by Rs 15.50, or 2.29%, to Rs 658.70 per kg, with trading volume of 731 lots.

 

In a similar fashion, the spice for September contract delivery shed Rs 4, or 0.52%, to Rs 764.90 per kg in 318 lots.

 

Traders said besides profit-booking by speculators at prevailing higher levels, subdued demand in the spot market mainly led to the decline in cardamom prices in futures trade.