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Crude palm oil futures drifts lower by 0.39% on low demand

Besides, sufficient stocks position following increased supplies from the producing regions, fuelled the downtrend.


PTI 30 Jul 2018, 07:07 AM India
  • Crude palm oil prices drifted lower by 0.39 per cent to Rs 602 per 10 kg in futures market today as speculators cut exposure, driven by easing demand at the spot market. (Image Credit: Wikipedia)

Crude palm oil prices drifted lower by 0.39 per cent to Rs 602 per 10 kg in futures market today as speculators cut exposure, driven by easing demand at the spot market.

Besides, sufficient stocks position following increased supplies from the producing regions, fuelled the downtrend.

At the Multi Commodity Exchange, crude palm oil for delivery in August was trading down by Rs 2.40, or 0.39 per cent, at Rs 602 per 10 kg in a business turnover of 257 lots.

Likewise, the oil for delivery this month shed 0.90 paise, or 0.14 per cent, to Rs 616.80 per 10 kg in 86 lots.

Marketmen said offloading of positions by participants owing to slackened demand in the physical market against adequate stocks position kept crude palm oil prices lower in futures trade.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)


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