Profit booking pulls down cardamom futures by 2.01%

Cardamom prices fell sharply by over 2 per cent to Rs 887.20 per kg in futures trade today as speculators booked profits at prevailing higher levels amid a fall in demand in the spot market.
Besides, adequate stock position in the physical market on higher supplies from producing belt put pressure on cardamom prices.
At Multi Commodity Exchange, cardamom for delivery in June tumbled Rs 18.20, or 2.01 per cent, to Rs 887.20 per kg in business turnover of 275 lots.
Also, the spice for delivery in May contracts shed Rs 2.20, or 0.24 per cent, to Rs 928.90 per kg in 56 lots.

Market analysts said apart from profit booking by speculators at existing levels, fall in demand in the spot market mainly led to the decline in cardamom prices at futures trade.