Cardamom futures plunge 3% hit by low demand

Cardamom prices tumbled by 3 per cent to Rs 1,061.20 per kg in futures trade today as speculators cut down their bets amid easing demand against adequate stock position.
At Multi Commodity Exchange, cardamom for delivery in July plunged by Rs 30.90, or 3 per cent, to Rs 1,061.20 per kg in a business turnover of 12 lots.
Likewise, the spice for delivery in August declined by Rs 28, or 2.98 per cent, to Rs 968 per kg in four lots.
Analysts said offloading of positions by speculators on the back of muted demand in the spot market against ample stock position mainly pulled down cardamom prices in futures trade.