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Crude palm oil futures edge lower on MCX

11 Aug 2016 Evaluate

Crude palm oil futures edged lower on MCX as speculators indulged in reducing their positions, triggered by subdued demand in the spot market. Moreover, adequate stocks position following higher supply from the producing belts too fuelled the downtrend.

The contract for August delivery was trading at Rs 537.00, down by 1.12% or Rs 6.10 from its previous closing of Rs 543.10. The open interest of the contract stood at 4175.00 lots.

The contract for September delivery was trading at Rs 525.00, down by 1.28% or Rs 6.80 from its previous close of Rs 531.80. The open interest of the contract stood at 4601.00 lots on MCX.