Cardamom falls by 4% on profit-booking

Cardamom prices plunged by 4% to hit lower limit at Rs 840.30 per kg in futures trade today as speculators booked profits at existing higher levels amid fall in demand in the spot market.

In futures trading at the Multi-Commodity Exchange, cardamom for delivery in May month plunged by Rs 35, or 4%, to hit lower circuit at Rs 840.30 per kg in business turnover of 48 lots.

Also, the spice for delivery in June contracts moved down by Rs 14.60, or 1.71% to Rs 837.90 per kg in 284 lots.

Analysts said besides profit-booking by participants at prevailing higher levels, fall in demand in spot market pulled down cardamom prices at futures trade.