Cardamom futures down 2.66 pc on sluggish demand

NEW DELHI: Cardamom prices moved down by 2.66 per cent to Rs 892.50 per kg in futures trade today as traders reduced positions, tracking a weak spot market trend on sluggish demand.

Adequate stocks availability in the physical market due to higher supply from producing belts also put pressure on cardamom prices at futures market.

At the Multi Commodity Exchange, cardamom for delivery in October fell by Rs 24.40, or 2.66 per cent, to Rs 892.50 per kg, with a business turnover of 82 lots.

Similarly, the spice for delivery in November moved down by Rs 3.90, or 0.43 per cent, to Rs 901.90 per kg, with a business turnover of 96 lots.

Marketmen said apart from a weak trend at spot market on sluggish demand, adequate stocks position mainly influenced cardamom prices at futures trade.