Cardamom down 0.7% on sluggish demand

Cardamom futures fell by 0.69% to Rs 1,160 per kg today as traders trimmed their holdings amid sluggish spot demand.

Besides, adequate stock position, following increased arrivals from producing regions, also fuelled the downtrend.

At the Multi Commodity Exchange, the commodity for September contracts eased by Rs 8.10, or 0.69%, to Rs 1,160 per kg with a business turnover of 134 lots.

The spice for delivery in October was down by Rs 3.40 or 0.28% to Rs 1,220 per kg with a trading volume of 140 lots.

Analysts said offloading of positions by participants owing to a weak trend at spot market on subdued demand mainly put pressure on cardamom prices at futures trade.