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NEWS ADMIN

DATE

10/08/2018

NEWS PROVIDER

Siti Safura Masiron

NEWS SOURCE

Outlook India

CATEGORY

HEADLINE

Crude palm oil futures slide on low demand

09.08.2018 (Outlook India) - New Delhi, Aug 9 Crude palm oil prices went down by 0.21 per cent to Rs 593.80 per 10 kg in futures market today as speculators cut down positions in line with weak Malaysian palm oil prices and on muted spot demand.

Besides, higher inventories dragged CPO prices in futures trade.

At the Multi Commodity Exchange, crude palm oil for delivery in the current month was trading down by Rs 1.30, or 0.21 per cent lower at Rs 593.80 per 10 kg in a business turnover of 61 lots.

Likewise, oil for delivery in September shed Rs 1.10, or 0.18 per cent, to Rs 593 per 10 kg in 72 lots.

Analysts said off-loading 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. PTI DPL KPS ADI ADI