Cardamom futures remain weak on sluggish demand

NEW DELHI: Cardamom remained weak and prices fell further by Rs 6.50 to Rs 1120 per kg in futures trade today as speculators trimmed their positions, tracking a weak trend at spot market on sluggish demand.

Adequate stocks availability in the physical market following higher arrivals from producing belts also kept pressure on cardamom.

At the Multi Commodity Exchange, cardamom for delivery in April declined by Rs 6.50, or 0.58 per cent, to Rs 1,120 per kg in business turnover of 8 lots.

Likewise, the spice for delivery in the March contract shed Rs 1.90, or 0.18 per cent, to Rs 1,073 per kg in 207 lots.

Market analysts said offloading of positions by speculators, tracking a weak trend at spot market due to sluggish demand against adequate stocks position mainly influenced cardamom prices at futures trade.