Cardamom remains weak on profit booking

Cardamom prices fell by another Rs 28.70, to Rs 1,172 per kg, in futures trade today, as speculators preferred to book profits amid subdued demand in the spot market.

Higher arrivals from the producing regions also weighed down heavily on the cardamom prices in futures trade.

At the Multi Commodity Exchange platform, cardamom for December contract declined by Rs 28.70, or 2.39 per cent, to Rs 1,172 per kg, with a trading volume of 531 lots.

The spice for delivery in February contract eased by Rs 25.40, or 2.12 per cent, to Rs 1,170 per kg, with a business volume of 344 lots, while January-month delivery declined by Rs 24.80 or 2.07 per cent to Rs 1,172.10 per kg in 149 lots.

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