Cardamom falls by 3% on profit-booking

Cardamom prices tumbled 2.99% to Rs 615.40 per kg in futures trading today as participants locked-in gains at prevailing higher levels amid tepid demand in the spot market.

At the Multi Commodity Exchange, cardamom for delivery in March month dropped by Rs 19, or 2.99% to Rs 615.40 per kg in business turnover of 114 lots.

Similarly, the spice for delivery in April contracts declined by Rs 9, or 1.31% to Rs 677.70 per kg in 178 lots.

Analysts said besides profit-booking by traders at existing level, fall in demand in spot market against adequate stocks position mainly dragged down cardamom prices at futures trade.