Cardamom slides by 1.7% on profit-booking

Profit-booking by speculators at prevailing higher levels, driven by sluggish demand influenced prices

Cardamom prices slide by 1.71% to Rs 734 per kg in futures market today as speculators booked profits at prevailing levels amid sluggish demand in the spot market against adequate stocks position.

 

At the Multi Commodity Exchange, cardamom for delivery in September month slide by Rs 12.80, or 1.71%, to Rs 734 per kg in business turnover of 1,112 lots.

 

Similarly, the spice for delivery in October contract shed Rs 2.40, or 0.31%, to Rs 773.50 per kg in 169 lots.

 

Market analysts said profit-booking by speculators at prevailing higher levels, driven by sluggish demand in the spot market against adequate stocks position, mainly influenced cardamom prices in futures trade.