Cardamom futures decline on profit booking

Cardamom futures prices declined by Rs 14.60 to Rs 1,354 per kg today, as speculators booked profits at prevailing levels.

Subdued demand against increased arrivals in the spot market from the producing region also put pressure on the cardamom prices in futures trade.

At the Multi Commodity Exchange, cardamom for February contract declined by Rs 14.60, or 1.07 per cent, to Rs 1,354 per kg, with a business volume of single lot.

Likewise, the spice for delivery in March contract moved down by Rs 14.40, or 1.02 per cent, to Rs 1,403.60 per kg, with a business volume of one lot.    

Analysts said besides profit booking by speculators, fall in demand in spot market also put pressure on cardamom prices at futures market here.