Cardamom futures weakens on sluggish demand

NEW DELHI: Cardamom futures extended losses by falling 0.70 per cent to Rs 792.80 per kg today due to muted demand in the spot market.

Further, ample stocks in the physical market following higher supply from the major producing belts too weighed on cardamom prices.

At the Multi Commodity Exchange, cardamom for December contract eased by Rs 5.60, or 0.70 per cent, to Rs 792.80 per kg with a business turnover of 14 lots.

Cardamom for delivery in November fell Rs 4.90, or 0.63 per cent, to Rs 771.10 per kg with trading volume of 100 lots.

Marketmen said apart from profit-taking by speculators at existing levels, fall in demand in spot market weighed on cardamom prices at futures market.