 "Crude palm oil falls by 0.8% on sluggish demand")
Crude palm oil prices fell 0.82% to Rs 483.10 per 10 kg in futures trade today as traders trimmed their positions, tracking a weak trend at spot market on sluggish demand.
Furthermore, ample stocks position on higher supplies from producing belts too weighed on crude palm oil prices.
At the Multi Commodity Exchange, crude palm oil for delivery in August eased by Rs 4, or 0.82%, to Rs 483.10 per 10 kg, in a business turnover of 201 lots.
Analysts said cutting down of bets by traders due to subdued demand in the spot market against sufficient stocks mainly kept crude palm oil prices lower at futures trade.
Furthermore, ample stocks position on higher supplies from producing belts too weighed on crude palm oil prices.
At the Multi Commodity Exchange, crude palm oil for delivery in August eased by Rs 4, or 0.82%, to Rs 483.10 per 10 kg, in a business turnover of 201 lots.
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Similarly, the oil for delivery in July traded lower by Rs 3.40, or 0.69%, to Rs 489.80 per 10 kg in 713 lots.
Analysts said cutting down of bets by traders due to subdued demand in the spot market against sufficient stocks mainly kept crude palm oil prices lower at futures trade.