Cardamom down by 1% on muted demand

Cardamom prices drifted by 0.99% to Rs 687 per kg in futures market today as traders lightened their positions, driven by easing demand in the spot market against adequate stocks position.

At the Multi Commodity Exchange, cardamom for delivery in February month declined by Rs 6.90, or 0.99% to Rs 687 per kg in business turnover of 43 lots.

Likewise, the spice for delivery in March contracts weakened by Rs 1.20, or 0.17% to Rs 725.40 per kg in 39 lots.

Traders said offloading of positions by participants amid sluggish demand in the spot market against adequate stocks position on higher supplies from producing belts mainly led to decline in cardamom prices at futures trade.