Cardamom down on profit booking

Written by Agencies | New Delhi | Updated: Mar 30 2011, 19:53pm hrs
Cardamom prices fell by Rs 11.80 to Rs 1,090.20 per kg in futures trade as speculators preferred to book profits, triggered by subdued spot demand.

Increased arrivals from the producing regions also put pressure on the cardamom prices in futures trade.

At the Multi Commodity Exchange, cardamom for delivery in May declined by Rs 11.80, or 1.07 per cent, to Rs 1,090.20 per kg, with a trading volume of 37 lots.

The spice for delivery in April eased by Rs 8.80, or 0.81 per cent, to Rs 1,067.10 per kg, with trading volume of 38 lots.

Likewise, the prices for delivery in June also fell by Rs 5.80, or 0.52 per cent, to Rs 1,094 per kg, with a trade volume of eight lots.

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