Muted demand drags down cardamom futures by 0.51%

Cardamom prices weakened by 0.51 per cent to Rs 1,006.30 per kg in futures market today as speculators reduced exposure amid easing demand in the spot market against adequate stocks position.

At the Multi Commodity Exchange, cardamom for delivery in December declined by Rs 5.20, or 0.51 per cent to Rs 1,006.30 per kg in business turnover of 8 lots.

Likewise, the spice for delivery in far-month January was trading lower by Rs 5, or 0.48 per cent to Rs 1,035 per kg in 4 lots.

Analysts said offloading of positions by participants owing to slackened demand in the physical market against adequate stocks position on higher supplies from producing regions, mainly weighed on cardamom prices at futures trade.

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