Crude palm oil futures edged down on MCX as speculators cut down positions, driven by easing demand in the spot market. Besides, ample stocks position on increased supplies from the producing belts too weighed on prices.
The contract for July delivery was trading at Rs 483.90, down by 0.25% or Rs 1.20 from its previous closing of Rs 485.10. The open interest of the contract stood at 2488 lots.
The contract for August delivery was trading at Rs 479.90, down by 0.17% or Rs 0.80 from its previous closing of Rs 480.70. The open interest of the contract stood at 4313 lots on MCX.