Thursday , August 24 2017
Business

Cardamom futures fall due to weak demand

Cardamom futures fall due to weak demand

New Delhi: Cardamom prices fell by 0.74 per cent to Rs 1,377 per kg in futures market today as traders engaged in reducing their positions, tracking a weak trend at spot market on muted demand.

Besides, ample stocks position in the physical market on increased supplies from the major cardamom producing regions too fuelled the downtrend.

At the Multi Commodity Exchange, cardamom for delivery in January month fell by Rs 10.30, or 0.74 per cent to Rs 1,377 per kg in business turnover of 19 lots.

On similar lines, the spice for delivery in February contracts traded lower by Rs 8.30, OR 0.59 per cent to Rs 1,390 per kg in 4 lots.

Analysts said that offloading of positions by participants amid subdued domestic as well as exports demand in the spot market against adequate stocks position, kept cardamom prices lower at futures trade here.