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Crude palm oil futures slip 0.35% on low demand

Business Finance

Press Trust of India  |  New Delhi 

Crude palm oil prices drift lower by 0.35 per cent to Rs 593.80 per 10 kg in futures market today as speculators cut positions in line with weak international prices and on muted spot demand.

Besides, higher inventories also dragged crude palm oil prices in futures trade.

At the Multi Commodity Exchange, crude palm oil for delivery in the current month was trading Rs 2.10, or 0.35 per cent, lower at Rs 593.80 per 10 kg in a business turnover of 22 lots.

Likewise, the oil for delivery in the September shed Rs 1.90, or 0.31 per cent, to Rs 592.50 per 10 kg in 20 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.

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

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First Published: Thu, August 16 2018. 11:35 IST