Cardamom prices drifted lower by 1.93 per cent to Rs 1,041 per kg in futures trade today as speculators cut bets amid fall in demand in the spot markets against adequate stocks position.
At the Multi Commodity Exchange, cardamom for delivery in April fell by Rs 20.50, or 1.93 per cent, to Rs 1,041 per kg in business turnover of 41 lots.
Similarly, the spice for delivery in May contracts was trading lower by Rs 20.20, or 1.86 per cent, to Rs 1,068.10 per kg in 2 lot.
Analysts said offloading of positions by traders owing to slackened demand in the physical market against ample stocks position on increased supplies from producing belts weighed on cardamom prices in futures trade.
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