Crude palm oil futures edged lower on MCX as speculators cut down positions following easing demand in the spot market against ample stocks position on increased supplies from producing regions.
The contract for July delivery was trading at Rs 488.80, down by 0.43% or Rs 2.10 from its previous closing of Rs 490.90. The open interest of the contract stood at 1673 lots.
The contract for August delivery was trading at Rs 486.50, down by 0.88% or Rs 4.30 from its previous closing of Rs 490.80. The open interest of the contract stood at 4754 lots on MCX.