Cardamom declines by 0.6% on profit-booking

Cardamom prices moved down by 0.58% to Rs 835.10 per kg in futures trade today as speculators booked profits at prevailing higher levels amid sluggish demand in spot markets.

Besides, adequate stocks position in the physical market on increased supplies from producing belts put pressure on cardamom prices.

At the Multi Commodity Exchange, cardamom for delivery in January next year declined by Rs 4.90, or 0.58%, to Rs 835.10 per kg in a business turnover of 107 lots.

Likewise, the spice for delivery in December edged down by Rs 3, or 0.39%, to Rs 772 per kg in 268 lots.
 
Analysts said besides profit-booking by speculators, low demand in spot markets against higher supplies from producing belts, mainly led to the decline in cardamom prices at futures trade.