Cardamom futures extend losses, down over 1% on easing demand

Continuing its losing streak for the third straight day, cardamom prices drifted lower by 1.10 per cent to Rs 1,145 per kg in futures trading today as participants engaged in cutting down their positions, tracking a weak trend at spot market on sluggish demand.
Besides, adequate stocks position on increased supplies from the major producing regions fuelled the downtrend.
At the Multi Commodity Exchange, cardamom for delivery in October month fell by Rs 12.70, or 1.10 per cent to Rs 1,145 per kg in business turnover of 147 lots.
Likewise, the spice for delivery in far-month November contracts traded lower by Rs 9.50, or 0.80 per cent to Rs 1,177.30 per kg in 15 lots.

Traders said trimming of positions by traders on the back of muted demand in the spot market against sufficient stocks position on higher supplies from producing belts mainly kept cardamom prices down at futures trade.