Cardamom futures tumble 3% on profit-booking

Cardamom prices tumbled by Rs 30 to Rs 970 per kg in futures trading today as speculators booked profits at existing higher levels amid subdued demand in the spot market.

Adequate stock availability in the spot market following increased arrivals from producing regions also put pressure on cardamom futures.

At the Multi Commodity Exchange, cardamom for March contract delivery tumbled by Rs 30, or 3 per cent, to Rs 970 per kg.

Similarly, cardamom for December contract delivery fell by Rs 28.20, or 2.88 per cent, to Rs 952 per kg in a single lot, while January contracts for the spice declined by Rs 25.10, or 2.56 per cent, to Rs 956.50 per kg in just one lot.

Market analysts said besides profit-booking by speculators after yesterday's gains, sluggish demand in the spot market also put pressure on cardamom futures prices.