 "Crude palm oil futures extend losses on muted demand")
Crude palm oil prices fell 0.77% to Rs 503.20 per 10 kg in futures trade today as participants cut down their bets, tracking a weak trend at spot market on subdued demand.
In addition, adequate stocks position on higher supplies from producing regions and weak trend at overseas markets also fuelled the downtrend.
At the Multi Commodity Exchange, crude palm oil for delivery in July fell Rs 3.90 or 0.77% to Rs 503.20 per 10 kg in a business turnover of 393 lots.
Analysts said offloading of positions by traders due to subdued demand in the spot market against sufficient stocks mainly kept crude palm oil prices lower at futures trade.
In addition, adequate stocks position on higher supplies from producing regions and weak trend at overseas markets also fuelled the downtrend.
At the Multi Commodity Exchange, crude palm oil for delivery in July fell Rs 3.90 or 0.77% to Rs 503.20 per 10 kg in a business turnover of 393 lots.
Also Read
Also, the oil for delivery in June traded lower by Rs 2.40 or 0.47% to Rs 506.20 per 10 kg in 31 lots.
Analysts said offloading of positions by traders due to subdued demand in the spot market against sufficient stocks mainly kept crude palm oil prices lower at futures trade.
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →*Subscribe to Business Standard digital and get complimentary access to The New York Times
Smart Quarterly
₹900
3 Months
₹300/Month
SAVE 25%
Smart Essential
₹2,700
1 Year
₹225/Month
SAVE 46%
*Complimentary New York Times access for the 2nd year will be given after 12 months
Super Saver
₹3,900
2 Years
₹162/Month
Subscribe
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app
SAVE 25%