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Extending losses for the third straight day, cardamom prices declined by another 0.57% to Rs 980.60 per kg in futures trading today as speculators reducing positions amidst low demand in the spot market.
Besides, ample stocks in the physical market following increased supply from the major producing belts put pressure on cardamom prices.
At the Multi Commodity Exchange, cardamom for delivery in April fell by Rs 5.60, or 0.57% to Rs 980.60 per kg in business turnover of 186 lots.
In a similar fashion, the spice for delivery in May traded lower by Rs 4.10, or 0.42% to Rs 961.10 per kg in 7 lots.
Market analysts said offloading of positions by speculators, driven by easing demand in the spot market, mainly kept cardamom prices lower at futures trade.
