Cardamom down by 1.8% on profit-booking

Cardamom prices plunged by 1.84% to Rs 931.60 per kg in futures trading today as speculators booked profits at prevailing levels amidst fall in demand in the spot market against adequate stocks position.

At Multi Commodity Exchange, cardamom for delivery in April fell sharply by Rs 17.50, or 1.84%, to Rs 931.60 per kg in business turnover of 249 lots.

Similarly, the spice for delivery in May contracts shed Rs 5.50, or 0.58%, to Rs 945 per kg in 30 lots.

Market analysts said besides profit-booking by speculators at existing levels, fall in demand in the spot market against adequate stocks position mainly pulled down cardamom prices at futures trade.