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Cardamom futures remain weak on profit taking

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Press Trust of India New Delhi

Cardamom futures prices fell further by Rs 19, or 2.07 per cent, to Rs 900 per kg today, as speculators booked profits on the back of subdued demand in spot markets.

Increased arrivals from the producing regions also put pressure on the cardamom futures prices.

At the Multi Commodity Exchange counter, cardamom for delivery in February declined by Rs 19, or 2.07 per cent, to Rs 900 per kg, with a business turnover of four lots.

The spice for delivery in November eased by Rs 14.70, or 1.53 per cent, to Rs 945 per kg, with a trading volume of 123 lots, while December contract moved down by Rs 12.80, or 1.38 per cent, to Rs 914 per kg, clocking in a business volume of 18 lots.

Marketmen said, besides profit taking by speculators at existing higher prices, fall in demand in spot market also put pressure on cardamom futures prices.

 

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First Published: Oct 20 2010 | 12:32 PM IST

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