Cardamom futures down on profit booking

Profit-booking by speculators and sluggish spot demand, cardamom prices drifted by Rs 18.50 to Rs 1,581.60 per kg in futures trade today. 

Fresh arrivals in the spot market from the producing regions also put some pressure on the cardamom prices in futures trade.

At the Multi Commodity Exchange, cardamom for March fell by Rs 18.50, or 1.16 per cent, to Rs 1,581.60 per kg, with a business turnover of two lots.     

Similarly, the spice for delivery in February moved down by Rs 16.50, or 1.06 per cent to Rs 1,540 per kg, with a business volume of two lots.  

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