Cardamom futures turn weak on profit taking

NEW DELHI: Cardamom futures prices fell by Rs 10.50 to Rs 913.20 per kg today, as speculators preferred to book profits, triggered by subdued demand in the spot market.

Increased arrivals from producing regions also weighed on the cardamom futures prices.

At the Multi Commodity Exchange counter, cardamom for December contract declined by Rs 10.50, or 1.13 per cent, to Rs 913.20 per kg, with a business turnover of 36 lots.

The spice for delivery in November contract fell by Rs 8.70, or 0.93 per cent, to Rs 922 per kg, with a trading volume of 43 lots, while January contract moved down by Rs 5.90, or 0.64 per cent, to Rs 907.10 per kg, with a trade volume of seven lots.

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