Cardamom falls for third day on low demand, high supply
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Cardamom prices continued its downward journey, falling for the third day by losing Rs 17.10 to Rs 1,040.30 per kg in futures trade today due to the adequate stocks availability in the physical market on account of higher supply from the producing belts.
Marketmen said trading sentiment weakened as the traders booked profits at the prevailing levels in the midst of a subdued demand for the commodity.
Prices also fell as the presence of 30 per cent of last year¿s crop in the arrivals has created apprehensions among the buyers about the stock of old crop held by farmers, they said.
At the Multi Commodity Exchange, cardamom for January contract fell by Rs 17.10, or 1.61 per cent, to Rs 1,040.30 per kg, with a business turnover of 593 lots.
The spice for delivery in December eased by Rs 10.30, or 1.14 per cent, to Rs 890.50 per kg, with a trading volume of 34 lots.