Cardamom falls by 1.2% on profit booking

Falling for the third straight day, cardamom fell further by 1.23% to Rs 731.50 per kg in futures trading today as participants booked profits amid muted demand in the spot market.

Furthermore, sufficient stocks in the physical market on higher supplies from the producing belts kept pressure on cardamom prices.

At the Multi Commodity Exchange, cardamom for delivery in February fell by Rs 9.10, or 1.23%, to Rs 731.50 per kg, in a business turnover of 271 lots.

Likewise, the spice for delivery in March traded lower by Rs 2.30, or 0.30%, to Rs 757.30 per kg in 56 lots.
 
Analysts said besides profit booking by traders, easing demand in the spot market against adequate stocks position on increased supplies from producing regions mainly kept cardamom lower at futures trade.