 "Crude palm oil down by 0.8% on higher supply")
Crude palm oil prices drifted 0.82% to Rs 373.20 per 10 kg in futures trade today as participants trimmed positions amid higher supplies from producing regions at spot market against low demand.
At the Multi Commodity Exchange, crude palm oil for delivery in September eased by Rs 3.10, or 0.82% to Rs 373.20 per 10 kg in business turnover of 10,514 lots.
Similarly, the oil for delivery in October contracts eased by Rs 3, or 0.78% to Rs 379.50 per 10 kg in 725 lots.
Market analysts said offloading of positions by speculators, driven by higher supplies from producing belts in the physical market against subdued demand, mainly led to decline in crude palm oil prices at futures trade.
At the Multi Commodity Exchange, crude palm oil for delivery in September eased by Rs 3.10, or 0.82% to Rs 373.20 per 10 kg in business turnover of 10,514 lots.
Similarly, the oil for delivery in October contracts eased by Rs 3, or 0.78% to Rs 379.50 per 10 kg in 725 lots.
Market analysts said offloading of positions by speculators, driven by higher supplies from producing belts in the physical market against subdued demand, mainly led to decline in crude palm oil prices at futures trade.