Cardamom falls by 1.1% on sluggish demand

Offloading of positions by speculators, tracking a weak trend at spot market affected prices

Cardamom prices fell by 1.11% to Rs 764.80 per kg in futures trading today as speculators trimmed position, tracking a weak trend at spot market due to sluggish demand.

 

Further, adequate stocks availability in the spot market following increased arrivals from producing regions also put pressure on cardamom prices.

 

At the Multi Commodity Exchange, cardamom for delivery in November fell by Rs 8.50, or 1.11% to Rs 754.80 per kg in business turnover of 155 lots.

 

Similarly, the spice for delivery in October traded lower by Rs 5.50, or 0.76% to Rs 715.30 per kg in 310 lots.

 

Market analysts said offloading of positions by speculators, tracking a weak trend at spot market on sluggish demand against adequate supplies from producing regions, mainly influenced cardamom prices at futures trade.