Cardamom falls over 3% on muted demand

Cardamom prices dropped by 3.05% to Rs 664.10 per kg in futures trading today as participants trimmed positions, tracking a weak trend at spot market on sluggish demand.

Besides, adequate stocks position on higher supplies from producing regions put pressure on cardamom prices.

At the Multi Commodity Exchange, cardamom for delivery in April plunged by Rs 20.90, or 3.05%, to Rs 664.10 per kg, in a business turnover of 490 lots.

Analysts said offloading of positions by traders on the back of low demand in the spot market against sufficient stocks following higher supplies from producing regions led to the fall in cardamom prices at futures trade.