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Crude palm oil futures shed 0.71 pc on low demand

Press Trust of India  |  New Delhi 

Crude palm prices declined by 0.71 per cent to Rs 638.80 per 10 kgs in futures trading today as speculators reduced their positions, triggered by easing demand in the spot market.

Ample stocks position on increased supplies from producing belts too fuelled the downtrend.

At the Multi Commodity Exchange, crude palm for delivery in the current month fell by Rs 4.60, or 0.71 per cent, to Rs 638.80 per 10 kgs, in a business turnover of 513 lots.

Likewise, the for delivery April month traded lower by Rs 3.10, or 0.48 per cent, to Rs 646.20 per 10 kgs in 134 lots.

Analysts said trimming of positions by traders due to subdued demand in the spot market against sufficient stocks position mainly led to the slide in prices in futures trade.

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

First Published: Fri, March 09 2018. 12:35 IST