 "Crude palm oil falls 1.1% on weak demand")
Crude palm oil prices moved down by 1.14% to Rs 565.30 per 10 kg in futures market today as speculators reduced their positions amid weak demand at the spot market.
At the Multi Commodity Exchange, crude palm oil for delivery in September month declined by Rs 6.50, or 1.14% to Rs 565.30 per 10 kg in business turnover of 346 lots.
Similarly, the oil for delivery in August traded lower by Rs 2.90, or 0.50% to Rs 571.60 per 10 kg in 148 lots.
Market analysts said offloading of positions by speculators due to weak demand at the spot market against sufficient supplies mainly weighed on crude palm oil prices at futures trade.
At the Multi Commodity Exchange, crude palm oil for delivery in September month declined by Rs 6.50, or 1.14% to Rs 565.30 per 10 kg in business turnover of 346 lots.
Similarly, the oil for delivery in August traded lower by Rs 2.90, or 0.50% to Rs 571.60 per 10 kg in 148 lots.
Market analysts said offloading of positions by speculators due to weak demand at the spot market against sufficient supplies mainly weighed on crude palm oil prices at futures trade.