Cardamom futures extend losses on sluggish spot demand

NEW DELHI: Continuing its losing streak for the fifth straight session, cardamom futures prices today fell further by Rs 34.10 to Rs 1,195.20 per kg on sluggish demand in the spot market against adequate stocks position.

Adequate stocks position following increased arrivals from souther producing region also kept pressure on the spices.

At the Multi Commodity Exchange, cardamom for delivery in June fell further by Rs 34.10, or 2.77 per cent to Rs 1,195.10 per kg in business turnover of 928 lots.

Likewise, the spice for delivery in July contract lost Rs 14.70, or 1.23 per cent, to Rs 1,183.50 per kg in 535 lots.

Market analysts said speculators offloading their positions due to sluggish demand in the spot markets against adequate stocks position mainly led to the fall in cardamom prices at futures market.