Cardamom futures fell 3.44 per cent on profits booking, sluggish demand
On May 7, 2011 (Saturday), cardamom futures declined in the domestic market as speculators indulged in profits booking at existing price level, driven by weaker spot demand. At MCX, cardamom Future for May contract fell as much as 3.44 per cent to Rs. 883.00 per kg. Moreover, increased arrivals from the major producing regions also put a downward pressure on cardamom futures prices.
Cardamom futures for May contract, at MCX, closed at Rs. 887.50 per kg, down by 2.95 per cent, after opening at Rs. 904.20 against the previous closing price of Rs. 914.50 per kg. It touched the intra-day low of Rs. 883.00 with a business volume of 713 lots, while cardamom for June contract closed at Rs. 918.60 per kg, down by 2.04 per cent, after opening at Rs. 913.10 against the previous closing price of Rs. 937.80.