Cardamom hits lower circuit on profit booking, plunges 4 pc

Cardamom prices dropped by 4 per cent to hit lower circuit at Rs 885.40 per kg in futures trade today as speculators booked profits at prevailing levels amid easing demand at the spot market.
At the Multi Commodity Exchange, cardamom for delivery in November fell by Rs 36.80, or 4 per cent to Rs 885.40 per kg in a business turnover of 18 lots.
Similarly, the spice for delivery in December contracts shed Rs 5.60, or 0.60 per cent to Rs 922 per kg in 63 lots.
Analysts said besides profit booking by participants at existing levels, fall in demand in the physical market against adequate stocks position on higher supplies from producing regions, mainly led to decline in cardamom prices at futures trade.