Cardamom futures extend losses,down 1.05 per cent on sluggish demand

NEW DELHI: Continuing its losing streak for the third day, cardamom prices drifted by 1.05 per cent to Rs 823.50 per kg in futures trading today as speculators reduced their positions, tracking a weak trend in the spot market on sluggish demand.

Further, adequate stocks position in the physical market following increased arrivals from the major producing belts fuelled the downtrend.

At the Multi Commodity Exchange, cardamom for delivery in October fell by Rs 8.70, or 1.05 per cent to Rs 823.50 per kg in business turnover of 233 lots.

In a similar fashion, the spice for delivery in November contracts shed Rs 7.10, or 0.85 per cent to Rs 825.70 per kg in 111 lots.

Analysts said offloading of positions by speculators, driven by sluggish demand in the spot market against adequate stocks position mainly kept pressure on cardamom prices at futures trade.