Muted demand drags down cardamom futures by 1.5%

Cardamom prices drifted lower by 1.52% to Rs 891 per kg in futures market today as traders lightened their positions to book profits amid easing demand in the spot market against adequate stocks position.

At the Multi Commodity Exchange, cardamom for delivery in August declined by Rs 13.80, or 1.52%, to Rs 891 per kg, in a business turnover of 122 lots.

Likewise, the spice for delivery in July weakened by Rs 8.20, or 1.01%, to Rs 800 per kg in 15 lots.

Traders said offloading of positions by participants amid sluggish demand in the spot market against adequate stocks position on higher supplies from producing belts mainly led to decline in cardamom prices at futures trade.