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Cardamom prices declined by 0.31% to Rs 734.30 per kg in futures trade today as speculators locked in profits at current levels amid sluggish demand in the spot market.
Adequate stocks position in the physical market following increased arrivals from the producing regions also put pressure on the cardamom prices in futures trade.
At the Multi Commodity Exchange, cardamom for delivery in November month declined by Rs 2.30, or 0.31%, to Rs 734.30 per kg in business turnover of 310 lots.
Likewise, cardamom for delivery in December traded lower by Rs 1.60, or 0.21%, to Rs 762.10 per kg in 47 lots.
Market analysts said besides profit booking by speculators at prevailing higher levels, low demand in the spot market against adequate stocks position mainly influenced cardamom prices in futures trade.
