Cardamom futures decline on sluggish demand

NEW DELHI: Amid sluggish spot demand, cardamom prices declined by Rs 10.70 to Rs 1,339 per kg in futures trading today as speculators reduced their holdings.

Adequate stocks position at spot markets following increased arrivals from producing belts also put pressure on cardamom prices.

At the Multi Commodity Exchange, cardamom for delivery in June declined by Rs 10.70, or 0.79 per cent, to Rs 1,339 per kg in business turnover of 663 lots.

Likewise, the spice for delivery in the July contract shed Rs 9, or 0.67 per cent, to Rs 1,329.40 per kg in 108 lots.

Market analysts said sluggish demand in the spot markets against adequate stocks availability mainly influenced cardamom prices at futures trade.