Cardamom futures weaken as demand declines

NEW DELHI: Cardamom futures prices today fell by 1.05 per cent to Rs 1,001 per kg as speculators reduced their positions, driven by a weak trend at spot market on lower demand and increased supplies.

At the Multi Commodity Exchange, cardamom for delivery in January declined by Rs 10.70, or 1.05 per cent, to Rs 1,001 per kg in business turnover of 589 lots.

Similarly, the spice for delivery in February traded lower by Rs 8.30, or 0.79 per cent, to Rs 1,041 per kg in 371 lots.

Market analysts said traders reduced their positions on the back of weak trend at spot market on subdued demand against tight supply mainly helped cardamom futures to trade lower.