Cardamom futures slide 0.74% as higher supply hurts

Cardamom prices declined by 0.74 per cent to Rs 1,057 per kg in futures trade today as speculators cut down their bets, prompted by ample stock position following higher supplies in the spot market.

At Multi Commodity Exchange, cardamom for delivery in July fell by Rs 7.90, or 0.74 per cent, to Rs 1,057 per kg in business turnover of 9 lots.

Analysts said offloading of positions by speculators, driven by sufficient stocks from producing regions, mainly influenced the prices.