Muted demand drags down cardamom futures by 0.94%

Cardamom prices drifted lower by 0.94 per cent to Rs 954 per kg in futures market today as speculators reduced exposure amid low demand in the spot market.
At the Multi Commodity Exchange, cardamom for delivery in November fell by Rs 9.10, or 0.94 per cent to Rs 954 per kg in business turnover of 5 lots.
Likewise, the spice for delivery in December shed Rs 3.90, or 0.41 per cent to Rs 954 per kg in 12 lots.
Analysts said offloading of positions by participants owing to slackened 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.