Cardamom futures tumble on profit-booking

PTI New Delhi | Updated on February 03, 2011

Cardamom futures prices plunged by Rs 34.30 to Rs 1,438.20 per kg today after speculators booked profits at higher levels amid sluggish demand at the spot market.

Adequate stocks following increased arrivals at the spot market from the southern producing regions also put pressure on cardamom prices at the futures market here.

At the Multi Commodity Exchange counter, cardamom for delivery in April traded lower by Rs 34.30 or 2.33 per cent at Rs 1,438.20 per kg with a turnover of just single lot.

Similarly, the spice for delivery in February plunged by Rs 19.40 or 1.4 per cent to Rs 1,367.90 per kg with a business turnover of one lot.

Market analysts said apart from profit-booking by speculators, sluggish demand in the spot market pulled down cardamom prices at the futures trade.

Published on February 03, 2011

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