Crude palm oil futures plunge over 3.16% on weak spot demand
Crude palm oil for delivery in September dropped by Rs 14.20, or 3.16 per cent, to Rs 434.70 per 10 kg in a business turnover of 807 lots.
By PTI | Updated:
NEW DELHI: Crude palm oil prices tumbled 3.16 per cent to Rs 434.70 per 10 kg in futures trade today as speculators trimmed positions amid a weak trend at spot market on sluggish demand.
At the Multi Commodity Exchange, crude palm oil for delivery in September dropped by Rs 14.20, or 3.16 per cent, to Rs 434.70 per 10 kg in a business turnover of 807 lots.
Similarly, the oil for delivery in August fell by Rs 5, or 1.05 per cent, to Rs 471 per 10 kg in 306 lots.
Analysts said offloading of positions by speculators due to sluggish demand in the spot market mainly led to the fall in oil prices at futures trade.
At the Multi Commodity Exchange, crude palm oil for delivery in September dropped by Rs 14.20, or 3.16 per cent, to Rs 434.70 per 10 kg in a business turnover of 807 lots.
Similarly, the oil for delivery in August fell by Rs 5, or 1.05 per cent, to Rs 471 per 10 kg in 306 lots.
Analysts said offloading of positions by speculators due to sluggish demand in the spot market mainly led to the fall in oil prices at futures trade.
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