Cardamom futures fall 0.70 per cent on higher supply

NEW DELHI: Cardamom prices fell by 0.70 per cent to Rs 928.10 per kg in futures trading today as speculators indulged in reducing positions, triggered by ample supplies in spot market from producing belts.

Besides, fall in demand at existing higher levels influenced cardamom prices.

At the Multi Commodity Exchange, cardamom for delivery in October fell by Rs 6.50, or 0.70 per cent, to Rs 928.10 per kg in business turnover of 17 lots.

Likewise, the spice for delivery in September contracts declined by Rs 3.50, or 0.38 per cent, to Rs 924.30 per kg in 140 lots.

Market analysts said besides adequate stocks in the physical markets following higher supplies from producing regions against low demand mainly led to the fall in cardamom prices at futures trade.