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Cardamom futures decline on profit booking

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Press Trust of India New Delhi
Last Updated : Jan 20 2013 | 10:13 PM IST

Snapping a three-day rising streak, cardamom futures prices declined by Rs 4 to Rs 721.40 per kg as speculators locked in gains at existing levels.

Fresh arrivals in the spot market from producing belts also put pressure on cardamom futures prices.

At the Multi Commodity Exchange, cardamom for June delivery declined by Rs 4, or 0.55%, to Rs 721.40 per kg, with a business turnover of 236 lots.

The July contract lost Rs 3.10, or 0.39%, to Rs 782.60 per kg, with a trade volume of 116 lots.

Analysts said besides profit-booking by speculators, fall in demand at existing high levels against fresh arrivals in the physical market mainly led to a fall in cardamom futures prices.

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First Published: Jun 03 2011 | 1:20 PM IST

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