Crude palm oil futures traded lower on MCX as speculators engaged in reducing positions, triggered by easing demand at the spot market. Besides, ample stocks position on increased supplies from producing belts too fuelled the downtrend.
The contract for July delivery was trading at Rs 483.10, down by 0.86% or Rs 4.20 from its previous closing of Rs 487.30. The open interest of the contract stood at 4740 lots.
The contract for August delivery was trading at Rs 479.00, down by 0.81% or Rs 3.90 from its previous closing of Rs 482.90. The open interest of the contract stood at 3529 lots on MCX.