Crude palm oil prices were down by 0.72% to Rs 360.50 per 10 kg in futures trade today after participants trimmed positions, taking negative cues from spot market on sluggish demand.
Adequate stocks position in the physical market on higher supplies from major producing belts and weak trend overseas also weighed on crude palm oil prices.
At the Multi Commodity Exchange, crude palm oil for delivery in August moved down Rs 2.60, or 0.72% to Rs 360.50 per 10 kg in business turnover of 52 lots.
Market analysts said offloading of positions by speculators due to easing demand in the spot market against adequate stocks position mainly led to decline in crude palm oil prices at futures trade.
Adequate stocks position in the physical market on higher supplies from major producing belts and weak trend overseas also weighed on crude palm oil prices.
At the Multi Commodity Exchange, crude palm oil for delivery in August moved down Rs 2.60, or 0.72% to Rs 360.50 per 10 kg in business turnover of 52 lots.
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Similarly, the oil for delivery in September contracts shed Rs 2.60, or 0.70% to Rs 370.40 per 10 kg in 119 lots.
Market analysts said offloading of positions by speculators due to easing demand in the spot market against adequate stocks position mainly led to decline in crude palm oil prices at futures trade.
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