Cardamom turns weak on profit taking

Cardamom futures prices fell by Rs 14.50 to Rs 1,551.10 a kg in futures trade on Wednesday, as speculators preferred to book profits triggered by subdued demand in the spot market.

Increased arrivals from producing regions also put pressure on prices in futures trade. At the Multi Commodity Exchange counter, cardamom for delivery in March declined by Rs 14.50 or 0.92 per cent to Rs 1,551.10 a kg, with a business turnover of 49 lots.

The commodity for delivery in January eased by Rs 9.40 or 0.64 per cent to Rs 1,452 a kg, with a business turnover of 34 lots.

February-month delivery contract moved down by Rs 9.60 or 0.62 per cent to Rs 1,519 a kg, with an open interest of 130 lots.

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