Crude palm oil futures slip 0.35% on low demand

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.

Crude palm oil prices drift lower by 0.35 percent 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 percent, lower at Rs 593.80 per 10 kg in a business turnover of 22 lots.

Likewise, the oil for delivery in September shed Rs 1.90, or 0.31 percent, 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 Devdiscourse staff and is auto-generated from a syndicated feed.)