Business Standard

Cardamom futures extend losses on profit-taking

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Press Trust of India New Delhi

Amid continued profit-booking by speculators and sluggish demand, cardamom futures prices fell by Rs 3.90 to Rs 864 per kg today.  

Adequate stocks position, following increased arrivals from the producing region, also put pressure on the cardamom prices in futures trade.

At the Multi Commodity Exchange, cardamom for September delivery declined by Rs 3.90, or 0.45%, to Rs 864 per kg, with a business turnover of 89 lots.

Similarly, the spice for August delivery shed Rs 2, or 0.24%, to Rs 828.40 per kg, with a trade volume of 101 lots.

Market analysts said besides profit-taking by speculators at existing higher levels, sluggish spot market demand mainly led to the fall in cardamom futures prices.

 

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First Published: Aug 03 2011 | 2:15 PM IST

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