Muted demand drags down cardamom futures by 1.86%

Cardamom prices dropped by 1.86 per cent to Rs 1,080 per kg in futures trade today as speculators reduced exposure, driven by easing demand in the spot market against adequate stocks position.
At Multi Commodity Exchange, cardamom for delivery in November fell by Rs 20.50, or 1.86 per cent to Rs 1,080 per kg in business turnover of 11 lots.
Likewise, the spice for delivery in October shed Rs 7.50, or 0.68 per cent to Rs 1,090 per kg in 2 lot.
Analysts said offloading of positions by participants due to decline in demand in the physical markets against ample stock position on higher supplies from proudcing belts, mainly weighed on cardamom prices at futures trade.