NEW DELHI, July 13: Crude palm oil prices fell further 1.17 per cent to Rs 615 per 10 kg in futures trade today as speculators cut bets, taking negative cues from the spot market on easing demand and as international prices ease amid concerns over the US-China trade dispute.
Moreover, adequate stocks position on higher supplies from overseas market weighed on the prices.
At the Multi Commodity Exchange, crude palm oil for delivery in the current month’s contract declined by Rs 7.30, or 1.17 per cent, to Rs 615 per 10 kg in a business turnover of 331 lots.
Similarly, the oil for delivery in August was trading down by Rs 6.40, or 1.04 per cent, at Rs 608.90 per 10 kg in 392 lots.
Analysts said offloading of positions by traders owing to slackened demand against sufficient stocks position kept crude palm oil prices down. (PTI)
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