MUMBAI (Commodity Online): Cardamom futures failed to maintain its early gains on profit taking by the traders due to lower demand and higher supply in the spot market on Wednesday.

MCX cardamom February futures dipped Rs 44.10 to Rs 1,058.40 per 1 kg. The counter now quoted at Rs 1,070.00 and the open interest in the contract dropped 23.10 percent to 324 lots from 422 lots, indicating profit selling. Volume traded as of now stood at 250 tonnes.

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The higher prices decreased the demand for the spice. Cardamom futures settled marginally higher on Tuesday after it fell extensively in the previous trading sessions.

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