Agri Business

Cardamom futures weaken

PTI New Delhi | Updated on January 04, 2011 Published on January 04, 2011

FALL IN DEMAND: Increased arrivals from producing regions also put pressure on futures prices. -- K.K. Mustafah   -  Business Line

Cardamom prices declined by Rs 12.90 to Rs 1,627.60 a kg in futures trade on Tuesday as speculators preferred to book profits at existing higher levels, driven by fall in demand in the spot market.

Increased arrivals from producing regions also put pressure on futures prices. At the Multi Commodity Exchange counter, cardamom for delivery in February declined by Rs 12.90 or 0.79 per cent to Rs 1,627.60 a kg with a business turnover of two lots.

Likewise, the spice for delivery in January lost Rs 11 or 0.74 per cent to Rs 1,591.80 a kg, with an open interest of just one lot.

Market analysts said besides profit taking by speculators at existing prices, fall in demand in the spot market led to decline in prices at the futures market.

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Published on January 04, 2011
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