Cardamom turns weak on profit booking

Cardamom prices fell by Rs 36.60, to Rs 1,328.10 per kg in futures trade today, as speculators preferred to book profits, triggered by a 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 platform, cardamom for February contract declined by Rs 36.60, or 2.68 per cent, to Rs 1,328.10 per kg, with a business turnover of 47 lots.

The spice for delivery in January contract eased by Rs 27.20, or 2.06 per cent to Rs 1,292.10 per kg, with a trading volume of 106 lots, while December contract moved down by Rs 19.90, or 1.59 per cent, to Rs 1,229 per kg, with an open interest of 31 lots.  

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