Muted Demand Drags Down Cardamom Futures

Cardamom futures were trading lower during the morning trade in the domestic market on Friday as traders trimmed their position, tracking easing demand in the spot market against adequate stocks position.

  Analysts said offloading of positions by participants owing to slackened demand in the spot market against sufficient stocks position on increased supplies from producing regions mainly led to the decline in cardamom prices at futures trade.

                                      At the MCX, cardamom futures for November 2016 contract is trading at Rs 1174 per kg, down by 0.46%, after opening at Rs 1176.50, against a previous close of Rs 1179.40. It touched the intra-day low of Rs 1168.10.

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