Cardamom down 3.9% on profit-booking

Market analysts said profit-booking by speculators at existing higher levels and easing demand led to the fall

Cardamom prices plunged by 3.98% to Rs 799.10 per kg in futures trade today as speculators locked-in gains at prevailing higher levels amid decline in demand in spot markets against adequate stocks position.

At the Multi Commodity Exchange, cardamom for delivery in November tumbled by Rs 33.10, or 3.98% to Rs 799.10 per kg in business turnover of 167 lots.

Market analysts said profit-booking by speculators at existing higher levels and easing demand at spot markets, mainly led to the fall in cardamom prices in futures trade.