Crude palm oil futures weaken by 0.17% on low demand
Crude palm oil prices softened by 0.17 per cent to Rs 514.40 per 10 kg in futures market today as traders reduced exposure due to easing demand in the spot market against adequate stocks position.
At the Multi Commodity Exchange, crude palm oil for delivery in August declined by 90 paise, or 0.17 per cent to Rs 514.40 per 10 kg in business turnover of 424 lots.
On similar lines, the oil for delivery in September, however, held steady at Rs 514.20 per 10 kg in 408 lots.
Market analysts said offloading of positions by participants following decline in demand in the spot market against ample stocks position on higher supplies from producing belts, mainly weighed on crude palm oil prices at futures trade.
(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.