Cardamom futures prices plunged by 4% to hit lower circuit at Rs 1,185.20 per kg in futures trade today as speculators booked profits after recent gains amid fall in demand in the spot market.
Adequate stocks position in the physical market on increased arrivals from producing regions also put pressure on cardamom futures.
At the Multi Commodity Exchange, cardamom for delivery in August plunged by Rs 49.40, or 4%, to Rs 1,185.20 per kg, with a business turnover of 439 lots.
September cardamom fell by Rs 25.80, or 2.08%, to Rs 1,214.70 per kg, with a business turnover of 967 lots.
Marketmen said emergence of profit-booking at prevailing higher levels and fall in demand in the spot market pulled down cardamom futures to hit lower circuit.
