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Cardamom futures dip on profit booking

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Press Trust of India New Delhi

Cardamom futures prices fell by Rs 21, or 2.11 per cent, to Rs 973 per kg today, after speculators booked profits at higher levels amid subdued demand in spot markets.

Increased arrivals from producing regions also put pressure on the spice's futures prices.

At the Multi Commodity Exchange platform, cardamom delivery for January fell by Rs 21, or 2.11 per cent, to Rs 793 per kg, with a business volume of one lot.

Similarly, the spice for delivery in November declined by Rs 13.70, or 1.26 per cent, to Rs 992 per kg, with an open interest of just one lot, while that for October shed Rs 7, or 0.67 per cent, to Rs 1036.10 per kg, with a business volume of one lot.

 

Marketmen said besides profit booking by speculators, fall in demand in the spot market against increased supplies mainly led to the decline in cardamom futures prices.

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First Published: Oct 15 2010 | 1:12 PM IST

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