Cardamom down by 2.8%, hurt by muted demand

Cardamom prices tumbled 2.75% to Rs 634.10 per kg in futures trading today as speculators cut down their bets, tracking a weak trend at spot market on muted demand.

Further adequate stocks position on higher supplies from producing region fulled the downtrend.

At the Multi Commodity Exchange, cardamom for delivery in December month dropped by Rs 17.90, or 2.75% to Rs 634.10 per kg in business turnover of 1 lot.

Similarly, the spice for delivery in far-month January 2016 contracts moved down by Rs 3.60, or 0.49% to Rs 732.50 per kg in 97 lots.

Analysts said apart from a weak trend at spot market on easing domestic as well as exports demand, sufficient stocks on higher supplies from producing belts kept pressure on cardamom prices at futures trade.