Cardamom futures extend losses on weak spot demand

NEW DELHI: Continuing its slide for the third day today, cardamom prices fell further by Rs 8.70 to Rs 1,045.20 per kg in futures trade today as speculators indulged in reducing their holdings largely in tandem with a weak trend at spot markets on sluggish demand.

Besides, adequate stocks position in the physical market following increased arrivals from producing belts also kept pressure on cardamom.

At the Multi Commodity Exchange, cardamom for delivery in February declined by Rs 8.70, or 0.83 per cent, to Rs 1,045.20 per kg in business turnover of 1,037 lots.

Likewise, the spice for delivery in the March contract traded lower by Rs 6, or 0.55 per cent, to Rs 1,083.60 per kg in 200 lots.

Market analysts said speculators reduced their holdings due to fall in demand in the spot market against adequate stocks availability mainly influenced cardamom prices at futures trade.