 "Palm oil down 0.8% on subdued demand")
Crude palm oil prices moved down by 0.83% to Rs 540.90 per 10 kg in futures trade today as speculators reduced holdings amid sluggish demand in the spot market.
Adequate stocks position in the physical market also put pressure on crude palm oil prices.
At the Multi Commodity Exchange, crude palm oil for delivery in June traded lower by Rs 5.50, or 0.83%, to Rs 540.90 per 10 kg in a business turnover of 405 lots.
Marketmen said offloading of positions by speculators, tracking a weak trend at spot market on subdued demand, led to fall in crude palm oil prices at futures trade.
Adequate stocks position in the physical market also put pressure on crude palm oil prices.
At the Multi Commodity Exchange, crude palm oil for delivery in June traded lower by Rs 5.50, or 0.83%, to Rs 540.90 per 10 kg in a business turnover of 405 lots.
More From This Section
In a similar fashion, the oil for delivery in May lost Rs 4, or 0.73%, to Rs 543.10 per 10 kg in 122 lots.
Marketmen said offloading of positions by speculators, tracking a weak trend at spot market on subdued demand, led to fall in crude palm oil prices at futures trade.