MARKET DEVELOPMENT
Agri-Commodity: Crude Palm Oil, Refined Soya Oil Fall on Sluggish Demand
Agri-Commodity: Crude Palm Oil, Refined Soya Oil Fall on Sluggish Demand
31/07/2017 (Economic Times) - Crude palm oil prices went down by 0.77 per cent to Rs 487 per 10 kg in futures trading today as speculators cut down positions following easing demand in the spot market against adequate stocks position.
At the Multi Commodity Exchange, crude palm oil for delivery in August fell by Rs 3.80, or 0.77 per cent, to Rs 487 per 10 kg in a business turnover of 266 lots.
Similarly, the oil for delivery in July was trading lower by Rs 1.90, or 0.39 per cent, to Rs 489 per 10 kg in futures trading today as participants cut down positions, taking weak cues from spot market on sluggish demand.
At the National Commodity and Derivatives Exchange, refined soya oil for delivery in August fell by Rs 3.40, or 0.53 per cent, to Rs 643.20 per 10 kg in a business turnover of 29,410 lots.
Similarly, the oil for delivery in September also enquired lower by Rs 2.85, or 0.44 per cent, to Rs 650 per 10 kg in 5,790 lots.
Analysts said offloading of positions by traders on the back of tepid demand in the physical market against ample stocks position on increased supplies from producing belts mainly led to the decline in refined soya oil prices at futures trade.
Chana futures
Chana prices fell by Rs 32 to Rs 4,811 per quintal in futures trade today due to subdued demand at spot market.
At the National Commodity and Derivatives Exchange, chana for delivery in September declined by Rs 32, or 0.66 per cent to Rs 4,811 per quintal with an open interest of 17,220 lots.
Market analysts attributed the slide in chana futures to offloading of positions by traders owing to muted demand in physical market against ample stocks position.
At the Multi Commodity Exchange, crude palm oil for delivery in August fell by Rs 3.80, or 0.77 per cent, to Rs 487 per 10 kg in a business turnover of 266 lots.
Similarly, the oil for delivery in July was trading lower by Rs 1.90, or 0.39 per cent, to Rs 489 per 10 kg in futures trading today as participants cut down positions, taking weak cues from spot market on sluggish demand.
At the National Commodity and Derivatives Exchange, refined soya oil for delivery in August fell by Rs 3.40, or 0.53 per cent, to Rs 643.20 per 10 kg in a business turnover of 29,410 lots.
Similarly, the oil for delivery in September also enquired lower by Rs 2.85, or 0.44 per cent, to Rs 650 per 10 kg in 5,790 lots.
Analysts said offloading of positions by traders on the back of tepid demand in the physical market against ample stocks position on increased supplies from producing belts mainly led to the decline in refined soya oil prices at futures trade.
Chana futures
Chana prices fell by Rs 32 to Rs 4,811 per quintal in futures trade today due to subdued demand at spot market.
At the National Commodity and Derivatives Exchange, chana for delivery in September declined by Rs 32, or 0.66 per cent to Rs 4,811 per quintal with an open interest of 17,220 lots.
Market analysts attributed the slide in chana futures to offloading of positions by traders owing to muted demand in physical market against ample stocks position.