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Muted demand weighs on crude palm oil futures

Press Trust of India  |  New Delhi 

Crude palm prices softened 0.30 per cent to Rs 559 per 10 kg in futures trade today as speculators reduced exposure on account of sluggish demand in spot markets.

The to be delivered in January declined Rs 1.70, or 0.30 per cent, to Rs 559 per 10 kg at the Multi Commodity Exchange in business turnover of 142 lots.

Likewise, the for delivery in February contracts shed Rs 1.60, or 0.28 per cent, to Rs 563.40 per 10 kg in 73 lots.

Analysts said offloading of positions by participants owing to slackened demand in the physical market against adequate stocks position on higher supplies from growing regions influenced prices.

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

First Published: Mon, January 08 2018. 10:55 IST