Cardamom down by 0.5% on sluggish demand

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Extending losses for the third straight day, cardamom prices fell further by 0.50% to Rs 719.90 per kg in futures trade today as participants engaged in reducing their positions, driven by subdued demand in the spot market.

Besides, adequate stocks position on higher supplies from producing regions put pressure on cardamom prices.

At the Multi Commodity Exchange, cardamom for delivery in January 2016 fell by Rs 3.60, or 0.50%, to Rs 719.90 per kg in a business turnover of 41 lots.

Likewise, the spice for delivery in February shed 80 paise, or 0.10%, to Rs 762.50 per kg in 12 lots.

Analysts said offloading of positions by participants on the back of low demand in the spot market against sufficient stocks on higher supplies from growing regions mainly kept cardamom prices lower at futures trade.

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