Cardamom weakens on profit-booking

Easing demand, adequate stocks influence prices

Cardamom prices declined by Rs 14.20 to Rs 1,378.50 per kg in futures trading today as speculators booked profits at existing levels against easing demand in the spot market.

At the Multi Commodity Exchange, cardamom for delivery in September declined by Rs 14.20, or 1.02%, to Rs 1,378.50 per kg, with business turnover of 285 lots.

August cardamom shed Rs 7.90, or 0.55%, to Rs 1,424.30 per kg in 1,898 lots.

Market analysts said besides profit booking by speculators, easing demand in the spot market against adequate stocks position influenced cardamom prices at futures trade.