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Crude palm oil futures slide 0.47 pc on muted demand

Press Trust of India  |  New Delhi 

Crude palm prices declined by 0.47 per cent to Rs 637.50 per 10 kg in futures market today as speculators reduced exposure, taking negative cues from the spot market on subdued demand.

Besides, sufficient stocks position following higher supplies from the producing belts too fuelled the downtrend.

At the Multi Commodity Exchange, crude palm for delivery in the current month fell by Rs 3, or 0.47 per cent, to Rs 637.50 per 10 kg in a business turnover of 266 lots.

Likewise, the for delivery in April was trading lower by Rs 2.40, or 0.37 per cent, to Rs 643.60 per 10 kg in 290 lots.

Analysts said cutting down of positions by participants owing to muted demand in the physical market against adequate stocks position on higher supplies from producing belts mainly led to the decline in prices at futures trade.

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

First Published: Mon, March 12 2018. 12:30 IST