Cardamom down by 0.7%, hurt by low demand

Cardamom prices were down by another 0.69% to Rs 747.60 per kg in futures market today as speculators engaged in reducing their positions, tracking a weak trend at spot market on easing demand.

At the Multi Commodity Exchange, cardamom for delivery in far-month January next year fell Rs 5.20, or 0.69% to Rs 747.60 per kg in business turnover of 1 lot.

On similar lines, the spice for delivery in December eased by Rs 2.70, or 0.37% to Rs 718.40 per kg in 33 lots.

Analysts said offloading of positions by participants on the back of easing demand in the spot market against adequate stocks position on higher supplies from producing regions, mainly kept cardamom prices lower at futures trade.