Cardamom falls by 0.3%, supply glut hurts
Participants reduced their holdings, driven by ample stocks due to higher supplies from producing belts
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Cardamom prices fell further by 0.32% to Rs 804 per kg in futures market today as participants reduced their holdings, driven by ample stocks due to higher supplies from producing belts.
Besides, easing demand in the spot market fuelled the downtrend.
At Multi Commodity Exchange, cardamom for delivery in September eased Rs 2.60, or 0.32%, to Rs 804 per kg in a business turnover of 4 lots.
Likewise, the spice for delivery in July contracts edged lower by 90 paise, or 0.11%, to Rs 831.20 per kg in 52 lots.
Marketmen said apart from adequate stocks, fall in demand mainly kept cardamom prices lower in futures trade.
Besides, easing demand in the spot market fuelled the downtrend.
At Multi Commodity Exchange, cardamom for delivery in September eased Rs 2.60, or 0.32%, to Rs 804 per kg in a business turnover of 4 lots.
Likewise, the spice for delivery in July contracts edged lower by 90 paise, or 0.11%, to Rs 831.20 per kg in 52 lots.
Marketmen said apart from adequate stocks, fall in demand mainly kept cardamom prices lower in futures trade.
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First Published: Jun 29 2015 | 11:07 AM IST