Cardamom down 1% on muted demand

Analysts said offloading of positions by traders due to sluggish demand in the spot market influenced cardamom prices

Cardamom prices drifted lower by 0.93% to Rs 853.90 per kg in futures trade today as participants trimmed positions, driven by easing demand in the spot market against adequate stocks position.

At the Multi Commodity Exchange, cardamom for delivery in July month fell by Rs 8, or 0.93% to Rs 853.90 per kg in business turnover of 25 lots.

Analysts said offloading of positions by traders due to sluggish demand in the spot market against sufficient stocks position mainly influenced cardamom prices at futures trade.