Cardamom futures prices today plunged by 23.20 to Rs 749 per kg, as speculators booked profits at existing higher levels, driven by a weak trend at the spot market on sluggish demand.
Adequate stocks position in the physical market following increased arrivals from producing region also put pressure on the cardamom futures prices.
At the Multi Commodity Exchange, cardamom for delivery in February plunged by Rs 23.20, or 3%, to Rs 749 per kg in a business turnover of 800 lots.
The March contract moved down by Rs 24.80, or 3%, to Rs 801.50 per kg in 671 lots.
Market analysts said besides booking profits by speculators at existing higher levels, a weak trend at the spot market on sluggish demand mainly pulled down cardamom prices at futures trade.