Muted demand drags cardamom futures down 2.22 pc on low demand

Cardamom prices drifted down by 2.22 per cent to Rs 1,103 per kg in futures trade today as speculators reduced exposure amid easing demand in the spot market.

Besides, adequate stocks position on higher arrivals from the major cardamom producing regions weighed on the prices.

At the Multi Commodity Exchange, cardamom for delivery in December fell by Rs 25, or 2.22 per cent, to Rs 1,103 per kg in a business turnover of 7 lots.

Likewise, the spice for delivery in November was trading lower by Rs 22.70, or 2.06 per cent, to Rs 1,080 per kg in 81 lots.

Analysts said off-loading of positions by speculators due to decline in demand in the spot market against sufficient stocks position on higher supplies from producing regions, mainly pulled down cardamom prices at futures trade.

(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)