Cardamom futures down 2.46% on profit-booking

NEW DELHI: Continuing its losing streak for the fourth straight day, cardamom futures prices today fell further by Rs 31.50, or 2.46 per cent, to Rs 1,249 per kg as speculators booked profits amid sluggish spot demand.

Adequate stocks availability in the physical market also put pressure on cardamom futures prices.

At the Multi Commodity Exchange, cardamom for delivery in June fell further by Rs 31.50, or 2.46 per cent, to Rs 1,249 per kg in a business turnover of 710 lots.

Likewise, the spice for delivery in July contract declined by Rs 23.70, or 1.91 per cent to Rs 1,219 per kg in 359 lots.

Market analysts said continued profit-booking by speculators at existing higher levels amid sluggish demand in the spot markets, mainly kept pressure on cardamom futures prices.