Continuing its slide, cardamom futures prices fell sharply by another Rs 61.50, or 4 per cent, to hit lower circuit at Rs 1,474.70 per kg today, as traders reduced positions on fall in demand at spot markets.
Adequate stocks followed by increased arrivals in the physical market from producing regions also put pressure on cardamom prices at the futures market.
At the Multi Commodity Exchange counter, cardamom for delivery in August contract drifted by Rs 61.50, or four per cent to hit lower limit at Rs 1,474.70 per kg, with a business turnover of 343 lots. It had lost three per cent in previous session.
Similarly, the spice for delivery in September contract declined by Rs 53.70, or four per cent, to Rs 1,288.30 per kg, with a trading volume of 29 lots, while October contract eased by Rs 48.80, or four per cent, to Rs 1,172.20 per kg, with a business turnover of 12 lots.
Analysts said fall in demand at existing higher levels, against fresh arrivals in the physical market mainly led to a fall in cardamom prices at futures trade.