 "Cardamom fall by 0.4% on sluggish demand")
Cardamom remained weak and prices shed another 0.41% to Rs 774 per kg in futures trade today as traders engaged in reducing their positions, tracking a weak trend at spot market on muted demand.
Furthermore, hopes of higher production during current year following favourable weather in growing regions weighed on prices.
At the Multi Commodity Exchange, cardamom for delivery in March declined by Rs 3.20, or 0.41% to Rs 774 per kg in a business turnover of five lots.
Analysts said offloading of positions by participants on the back of low demand in the spot market against sufficient stocks on higher supplies from producing belts kept cardamom prices lower at futures trade.
Furthermore, hopes of higher production during current year following favourable weather in growing regions weighed on prices.
At the Multi Commodity Exchange, cardamom for delivery in March declined by Rs 3.20, or 0.41% to Rs 774 per kg in a business turnover of five lots.
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Likewise, the spice for delivery in February contracts eased by Rs 3.10, or 0.40% to Rs 775 per kg in 39 lots.
Analysts said offloading of positions by participants on the back of low demand in the spot market against sufficient stocks on higher supplies from producing belts kept cardamom prices lower at futures trade.