 "Crude palm oil futures weaken on sluggish demand, global cues")
Crude palm oil prices fell by Re 1 to Rs 561.60 per 10 kg in futures trading today as speculators trimmed positions amid sluggish demand in the spot market against adequate stocks position.
At the Multi Commodity Exchange, crude palm oil for delivery in November declined by Re one, or 0.18%, to Rs 561.60 per 10 kg in business turnover of 139 lots.
Similarly, oil for delivery in December shed 70 paise, or 0.12%, to Rs 563.70 per 10 kg in 149 lots.
They said a weak trend in overseas markets on concern that a rally in prices to a two-week high may weaken exports from Malaysia, also influenced the sentiment.
Meanwhile, palm oil for delivery in January, retreated 1.3% to $807 a tonne on the Malaysia Derivatives Exchange.
At the Multi Commodity Exchange, crude palm oil for delivery in November declined by Re one, or 0.18%, to Rs 561.60 per 10 kg in business turnover of 139 lots.
Similarly, oil for delivery in December shed 70 paise, or 0.12%, to Rs 563.70 per 10 kg in 149 lots.
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Analysts said reducing of positions by speculators following sluggish demand in the spot market against adequate stocks position mainly weighed on crude palm oil prices at futures trade.
They said a weak trend in overseas markets on concern that a rally in prices to a two-week high may weaken exports from Malaysia, also influenced the sentiment.
Meanwhile, palm oil for delivery in January, retreated 1.3% to $807 a tonne on the Malaysia Derivatives Exchange.