Business Standard

Cardamom extends losses on profit-booking

September contract falls 2.33%

Image

Press Trust of India New Delhi

Cardamom prices fell further by Rs 24.60 to Rs 1,028 per kg in futures trade today as speculators booked profits amid subdued spot demand.

Increased arrivals from producing regions kept pressure on cardamom futures prices.

At the Multi Commodity Exchange, cardamom for delivery in September fell by Rs 24.60, or 2.33%, to Rs 1,028 per kg, with a business turnover of 1,445 lots.

It had lost 4% in yesterday's session.

October cardamom eased by Rs 6.70, or 0.62% to Rs 1,067 per kg, with a business volume of 370 lots.

Marketmen said continued profit-booking by speculators at prevailing higher levels and slackened demand in the spot market against increased arrivals from producing belts kept pressure on the cardamom prices at futures trade.

 

Don't miss the most important news and views of the day. Get them on our Telegram channel

First Published: Aug 22 2012 | 11:58 AM IST

Explore News