Cardamom snaps four-day rising streak on profit-booking
NEW DELHI, Feb 7
Snapping its four-day rising streak, cardamom prices dipped 2.11 per cent to Rs 710 per kg in futures trading today as speculators booked profits at prevailing higher levels on fall in spot market demand against adequate stocks position.
At the Multi Commodity Exchange, cardamom for delivery in February plunged Rs 15.30, or 2.11 per cent, to Rs 710 per kg in a business turnover of 421 lots.
However, spice for delivery in March held steady at Rs 802.70 per kg in 744 lots.
Market analysts said speculators booking profits at prevailing higher levels and fall in demand in the spot market kept pressure on cardamom prices at futures trade.
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