Cardamom futures extend losses, down 2.62% on muted demand

New delhi: Cardamom prices dropped further by 2.62 per cent to Rs 1,467.20 per kg in futures trade today as speculators engaged in reducing their positions, tracking a weak trend at spot market on tepid domestic and exports demand.

Besides, adequate stocks position on increased arrivals from producing regions put pressure on cardamom prices.

At the Multi Commodity Exchange, cardamom for delivery in March fell by Rs 39.40, or 2.62 per cent to Rs 1,467.20 per kg in business turnover of 259 lots.

On similar lines, the spice for delivery in February contracts was down by Rs 36.10, or 2.31 per cent to Rs 1,525 per kg in 13 lots.

Marketmen said offloading of positions by participants due to sluggish domestic and exports demand in the spot market against ample stocks position on higher supplies from growing regions mainly kept cardamom prices lower at futures trade.