Muted demand drags down cardamom futures by 1.89%

Cardamom prices drifted lower by 1.89 per cent to Rs 1,253 per kg in futures trade today as speculators trimmed their positions, taking negative cues from spot market on tepid demand.

At the Multi Commodity Exchange, cardamom for delivery in May fell by Rs 24.10, or 1.89 per cent, to Rs 1,253 per kg, in a business turnover of 41 lots.

Market analysts said offloading of positions by participants amid sluggish demand in the spot market against adequate stocks position mainly led to the fall in cardamom prices at futures trade.