Cardamom futures fall 3% on profit-booking

NEW DELHI: Cardamom futures prices today fell by Rs 29.30 to Rs 946 per kg, as speculators booked profits amid subdued demand in the spot market.

Increased arrivals from the producing regions also put pressure on the cardamom prices in futures trade.

At the Multi Commodity Exchange, cardamom for October contract plunged by Rs 29.30, or 3 per cent, to Rs 946 per kg, with a business turnover of 600 lots.

The spice for delivery in November contract declined by Rs 16.70, or 1.83 per cent, to Rs 895 per kg, with a trading volume of 886 lots.

Marketmen said, besides profit taking by speculators at existing higher prices, fall in demand in spot market also put pressure on cardamom prices at futures market.