Cardamom down by 0.7% on subdued demand

Continued its losing streak for the third day, cardamom prices shed another 0.69% to Rs 868.40 per kg per kg in futures trade today as speculators trimmed positions amidst sluggish demand in the spot market.

At the Multi Commodity Exchange, cardamom for delivery in February fell by Rs 6, or 0.69% to Rs 868.40 per kg in business turnover of 18 lots.

In a similar fashion, the spice for delivery in January contract traded lower by Rs 3.10, or 0.36% to Rs 847.70 per kg in 175 lots.

Market analysts said off-loading of positions by speculators, triggered by subdued demand in the spot market against adequate stocks position mainly kept pressure on cardamom prices at futures trade.