Cardamom futures fall on muted demand
New Delhi, Oct 17: Cardamom prices drifted down by Rs 18.90 to Rs 1,050.30 per kg in futures market today as traders trimmed holdings amid sluggish demand at the spot market.
Besides, adequate stocks position following increased arrivals from producing regions too fuelled the downtrend.
At the Multi Commodity Exchange, cardamom for delivery in far-month January next year declined by Rs 18.90, or 1.77 per cent, to Rs 1,050.30 per kg, in a business turnover of just one lot. The spice for delivery in November was trading down by Rs 7.40, or 0.72 per cent, to Rs 1,018 per kg, with a trading volume of 50 lots.
Traders said offloading positions by participants amid sluggish demand in the spot market against adequate stocks position on higher supplies from producing regions, mainly led to the decline in cardamom prices at futures trade.