Cardamom futures turn weak on profit booking

Cardamom futures prices fell back by Rs 20.10 to Rs 1,540.20 per kg today, as speculators booked profits triggered by subdued demand in the spot market.

Fresh arrivals from the producing regions also put pressure on the cardamom prices in futures trade.

At the Multi Commodity Exchange counter, cardamom for February contract fell by Rs 20.10, or 1.28 per cent, to Rs 1,540.20 per kg, with a business turnover of 178 lots.

The commodity for delivery in March declined by Rs 19.60, or 1.22 per cent, to Rs 1,585.30 per kg, with a trading volume of 65 lots, while January contract eased by Rs 19.50, or 1.31 per cent, to Rs 1,460.10 per kg, with a trade volume of 23 lots.

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