Agri-commodity: Cardamom, crude palm oil fall on muted demand

Cardamom prices tumbled by 4 per cent to hit lower circuit at Rs 1,190.80 per kg in futures market today, driven by easing demand at spot market against adequate stocks position.

Moreover, sentiment weakened further as traders booked profits at prevailing high levels and higher arrivals from producing regions.

At the Multi Commodity Exchange, cardamom for delivery in October tumbled by Rs 49.90, or 4 per cent, to Rs 1,199.80 per kg, in a business turnover of 104 lots.

The spice for delivery in far-month November weakened by Rs 48.80, or 4 per cent, to Rs 1,171.70 per kg in 50 lots.

Traders said offloading of positions by participants amid sluggish demand in spot market against adequate stocks position on higher supplies from producing belts mainly led to decline in cardamom prices at futures trade.

Crude palm oil
Crude palm oil prices fell 0.31 per cent to Rs 542.60 per 10 kg in futures trade today as traders booked profits amid fall in demand at spot markets.

Besides, sufficient stocks position following higher supplies from producing belts too fuelled the downtrend.

At the Multi Commodity Exchange, crude palm oil for delivery in October month eased by Rs 1.70, or 0.31 per cent, to Rs 542.60 per 10 kg, in a business turnover of 339 lots.

The oil for delivery in current month traded lower by Rs 1.30, or 0.23 per cent, to Rs 546 per 10 kg in 805 lots.

Analysts said besides profit-booking by speculators at prevailing higher levels, fall in demand at spot markets weighed on crude palm oil prices.