Cardamom falls by 1.6% on profit-booking

Cardamom futures traded 1.61% lower at Rs 700 per kg today after speculators booked profits at prevailing higher levels amid subdued spot demand.

Sufficient stocks position in the physical market also influenced the prices.

At the Multi Commodity Exchange, cardamom for April eased by Rs 11.50, or 1.61%, to Rs 700 per kg, with a business turnover of 21 lots.

The spice for delivery in March fell by Rs 4.20, or 0.62%, to Rs 665.30 per kg, with a trading volume of 157 lots.

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