Cardamom futures declined on profits booking, sluggish demand

Posted By: Religare
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Cardamom futures declined on profits booking
Yesterday, Cardamom futures maintained bearish trend in the domestic market due to profits booking by the speculators at existing price level, driven by weak spot demand.

Cardamom for May contract dropped as much as 3.0 per cent to Rs. 913.40 per kg on the Multi Commodity Exchange (MCX). Moreover, adequate stocks positions in the spot market due to increased arrivals from major producing regions also kept the prices in negative zone.

AT MCX, cardamom for May contract closed at Rs. 917.20 per kg, down by 2.60%, after opening at Rs. 947.00 against the previous closing price of Rs. 941.70. It touched the intra-day low of Rs. 913.40 with a business volume of 1,259 lots.

While, cardamom for June delivery closed at Rs. 939.50 per kg, down by 3.12%, after opening at Rs. 971.50 per kg against the previous closing price of Rs. 969.80 per kg. It touched the intra-day low of Rs. 937.70 with a business volume of 641 lots.

Read more about: mcx, cardamom
Story first published: Thursday, May 5, 2011, 12:30 [IST]
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