Cardamom futures turn weak on profit taking

Cardamom futures prices fell by Rs 24.30, to Rs 1,502 per kg today, as speculators preferred to book profits, triggered by subdued demand in the spot market.

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

At the Multi Commodity Exchange counter, cardamom for January declined by Rs 24.30, or 1.59 per cent, to Rs 1,502 per kg with business volume of 253 lots.

The spice for delivery in February contract eased by Rs 16.50, or 1.03 per cent, to Rs 1,578.10 per kg in 334 lots, while March delivery eased by Rs 9.80 or 0.60 per cent to Rs 1,618 per kg in a trading volume of 52 lots.

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