Cardamom futures dip 2.56% on profit taking

Cardamom futures prices tumbled by Rs 41 to Rs 1,575 per kg in futures trade today on continued profit booking by speculators, amid sluggish demand in the spot market.

Adequate stocks following increased arrivals in the spot market from southern producing region also put pressure on cardamom prices at the futures market here.

At the Multi Commodity Exchange counter, cardamom for April-month delivery tumbled by Rs 41, or 2.56 per cent, to Rs 1,575 per kg, with a business turnover of just one lot.

Similarly, the spice for delivery in January dipped by Rs 31.70, or 2.07 per cent, to Rs 1,525.10 per kg, with an open interest of four lots.

Market analysts said profit booking by speculators and fall in demand at existing higher levels pulled down cardamom prices at futures trade.