Crude palm oil prices softened by 0.23 per cent to Rs 658.10 per 10 kgs in futures market today as speculators reduced exposure, taking negative cues from spot market on subdued demand.
Besides, sufficient stocks following increased supplies from the producing regions, weighed on prices.
At the Multi Commodity Exchange, crude palm oil for delivery in June fell by Rs 1.50, or 0.23 per cent, to Rs 658.10 per 10 kg in a business turnover of 101 lots.
Similarly, the oil for delivery in May contracts shed Rs 1.30, or 0.20 per cent, to Rs 653.20 per 10 kg in 77 lots.
Analysts said offloading of positions by participants owing to slackened demand in the physical market against adequate stocks position on increased supplies from growing regions led to decline in crude palm oil prices 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