Cardamom prices plunged by Rs 36.30 to Rs 1,061 per kg in futures trade today after speculators booked profits on subdued spot market demand.
Adequate stocks following increased arrivals from the producing regions also put pressure on cardamom futures prices.
All the three running contract traded lower by three per cent as the selling pressure gathered momentum.
At the Multi Commodity Exchange, cardamom for delivery in March declined by Rs 36.30, or three per cent, to Rs 1,061 per kg, with a business turnover of 634 lots.
The spice for delivery in May eased by Rs 34.10, or three per cent, to Rs 1,101.50 per kg, with a trading volume of 25 lots.
Similarly, for delivery in April cardamom moved down by Rs 33.90, or three per cent, to Rs 1,094.20 per kg, with an open interest of 384 lots.
Market analysts said besides profit taking by speculators at existing higher prices, fall in spot demand also put pressure on cardamom futures prices.
