Easing demand drags down crude palm oil futures 0.77 pc

Crude palm oil prices went down by 0.77 per cent to Rs 487 per 10 kg in futures trading today as speculators cut down positions following easing demand in the spot market against adequate stocks position.

At the Multi Commodity Exchange, crude palm oil for delivery in August fell by Rs 3.80, or 0.77 per cent, to Rs 487 per 10 kg in a business turnover of 266 lots.

Similarly, the oil for delivery in July was trading lower by Rs 1.90, or 0.39 per cent, to Rs 489 per 10 kg in 81 lots.

Analysts said trimming of positions by traders owing to subdued demand in the spot market against ample stocks position on increased supplies from producing regions mainly led to the decline in crude palm oil prices at futures trade.

(This article has not been edited by DNA's editorial team and is auto-generated from an agency feed.)