Crude palm oil futures edged lower on MCX as speculators booked profits at prevailing higher levels amid fall in demand at spot market. Besides, adequate stocks position following higher supply from the producing belts too fuelled the downtrend.
The contract for August delivery was trading at Rs 561.80, down by 0.23% or Rs 1.30 from its previous closing of Rs 563.10. The open interest of the contract stood at 1818.00 lots.
The contract for September delivery was trading at Rs 551.80, down by 0.50% or Rs 2.80 from its previous close of Rs 554.60. The open interest of the contract stood at 3553.00 lots on MCX.