India cardamom prices zoom, though arrivals are high

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Turmeric prices fell by Rs 166 to Rs 4,958 per quintal in futures market today as speculators indulged in profit-booking following subdued demand in the spot market.

At the National Commodity and Derivatives Exchange, turmeric for delivery in April fell by Rs 166, or 3.24% to Rs 4,958 per quintal with an open interest of 14,040 lots.

The May contract moved down by Rs 144, or 2.88%, to Rs 4,966 per quintal in 6,260 lots.

 Analysts attributed to fall in turmeric futures to profit-bookings by speculators, sluggish demand in the spot market mainly pulled down turmeric prices at futures trade.

They said estimates of higher output also dampened trading sentiment.

Source: http://www.commodityonline.com/news/india-cardamom-prices-zoom-though-arrivals-are-high-46049-3-46050.html

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