Cardamom futures down 1.38 pc on profit-booking

Cardamom prices drifted lower by 1.38 per cent at Rs 1,529 per kg in futures market today as traders lightened their positions to book profits amid easing demand in the spot market.

Further, higher supplies from the major producing regions, too put pressure on cardamom prices.

At the Multi Commodity Exchange, cardamom for delivery in current month plunged by Rs 21.40, or 1.38 per cent, at Rs 1,529 per kg, in a business turnover of just one lot.

Likewise, the spice for delivery in March declined by Rs 2.10, or 0.14 per cent, to Rs 1,503.20 per kg with trading volume of just five lots.
 

Traders said, offloading of positions by participants amid sluggish demand in the spot market against adequate stocks position on higher supplies from producing belts, mainly led to the decline in cardamom prices at futures trade.