Cardamom weakens by 0.7% on profit-booking

Cardamom extended weakness with prices falling further by 0.73% to Rs 753.80 per kg in futures trade today as speculators booked profits at prevailing levels amid subdued demand in the spot market.

 

Adequate stocks in the spot market following increased arrivals also put pressure on the prices.

 

At the Multi Commodity Exchange, cardamom prices for delivery in August declined by Rs 5.60, or 0.73%, to Rs 753.80 per kg with a business turnover of 595 lots.

 

Likewise, the spice prices for delivery in September shed Rs 3.80, or 0.48% to Rs 785.10 per kg in 63 lots.

 

Market analysts said subdued demand in the spot market against adequate stocks position mainly kept pressure on the cardamom prices at futures trade.