Crude palm oil futures traded lower on MCX as traders reduced exposure amid tepid demand in the spot market. Further, ample stocks position on increased supplies from producing regions too fuelled the downtrend.
The contract for January delivery was trading at Rs 589.50, down by 1.29% or Rs 7.70 from its previous closing of Rs 597.20. The open interest of the contract stood at 2635 lots.
The contract for February delivery was trading at Rs 579.00, down by 1.55% or Rs 9.10 from its previous closing of Rs 588.10. The open interest of the contract stood at 3380 lots on MCX.