Cardamom futures prices plunged by Rs 34.30 to Rs 1,438.20 per kg today after speculators booked profits at higher levels amid sluggish demand in the spot market.
Adequate stocks following increased arrivals in the spot market from southern producing regions also put pressure on cardamom prices at the futures market here.
At the Multi Commodity Exchange, cardamom for delivery in April traded Rs 34.30, or 2.33% lower at Rs 1,438.20 per kg, with a turnover of just single lot.
Similarly, the spice for delivery in February contract plunged by Rs 19.40, or 1.40%, to Rs 1,367.90 per kg, with a business turnover of one lot.
Market analysts said apart from profit booking by speculators, sluggish demand in the spot market pulled down cardamom prices at futures trade.
