Business Standard

Cardamom futures weakens on profit booking

Image

Press Trust of India New Delhi

Cardamom futures prices fell by Rs 13.80 to Rs 734 per kg today owing to slackness in demand at existing high levels.

Fresh arrivals in the spot market from producing belts also put pressure on cardamom prices in the futures trade.

At the Multi Commodity Exchange, cardamom for June month contract fell by Rs 13.80, or 1.84%, to Rs 734 per kg, with a business turnover of 339 lots.

Similarly, the spice for delivery in August eased by Rs 6.10, or 0.71%, to Rs 851.90 per kg, with a business turnover of 46 lots, while July contract moved down by Rs 5.80 or 0.71% to Rs 808.20 per kg in 194 lots.

Analysts said fall in demand at existing high levels against fresh arrivals in the physical market mainly led to a fall in cardamom prices at futures.

 

Don't miss the most important news and views of the day. Get them on our Telegram channel

First Published: Jun 07 2011 | 1:15 PM IST

Explore News