Commodities

Cardamom tumbles on profit booking

PTI New Delhi | Updated on February 22, 2011 Published on February 22, 2011

Besides profit booking by speculators at existing higher levels, fall in demand at spot markets also put pressure on cardamom prices at the futures market. PHOTO K.K. Mustafah   -  Business Line

Cardamom prices tumbled by Rs 38.90 or 3.06 per cent to Rs 1,231 a kg in futures trade today as traders preferred to book profits, influenced by weak trend in the spot market.

Adequate stocks position following increased arrivals in the spot market from producing regions also weighed down on prices in futures trade.

At the Multi Commodity Exchange, cardamom for May contract plunged by Rs 38.90 or 3.06 per cent to Rs 1,231 a kg, with a business volume of a single lot.

Similarly, delivery in March contract also fell by Rs 34 or 2.79 per cent to Rs 1,186 a kg, with a trading volume of one lot.

Marketmen said, besides profit booking by speculators at existing higher levels, fall in demand at spot markets also put pressure on cardamom prices at the futures market.

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Published on February 22, 2011
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