Crude palm oil prices went down by 0.50 per cent to Rs 620.60 per 10 kg in futures market today as speculators cut down positions in line with weak international prices and on muted spot demand.
Besides, higher inventories dragged CPO prices in futures trade.
At the Multi Commodity Exchange, crude palm oil for delivery in the current month was trading down by Rs 3.10, or 0.50 per cent lower at Rs 620.60 per 10 kg in a business turnover of 567 lots.
Likewise, oil for delivery in August shed Rs 2, or 0.32 per cent, to Rs 614.50 per 10 kg in 565 lots.
Analysts 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.
Disclaimer: No Business Standard Journalist was involved in creation of this content
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 →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
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