Cardamom futures fall 1.07 pc on sluggish demand

NEW DELHI: Cardamom prices declined by 1.07 per cent to Rs 841 per kg in futures trade today as speculators indulged in reducing positions, tracking a weak trend in the spot market on sluggish demand at prevailing higher levels.

Further, adequate stocks position in the physical market due to increased arrivals from major producing belts put pressure on cardamom prices.

At the Multi Commodity Exchange, cardamom for delivery in far-month December fell by Rs 9.10, or 1.07 per cent, to Rs 841 per kg in business turnover of 24 lots.

Likewise, the spice for delivery in November contract traded lower by Rs 6.70, or 0.79 per cent, to Rs 839.10 per kg in 134 lots.

Analysts said offloading of positions by speculators, driven by sluggish demand at existing higher levels in the spot market against adequate stocks position mainly led to the fall in cardamom prices at futures trade.