Crude palm oil down by 0.3% on low demand

Crude palm oil prices moved down by 0.31% to Rs 443.80 per 10 kg in futures market today as speculators reduced positions due to sluggish demand in the spot market against adequate stocks position.

At the Multi Commodity Exchange, crude palm oil for delivery in April declined by Rs 1.40, or 0.31%, to Rs 443.80 per 10 kg in a business turnover of 161 lots.

Similarly, the oil for delivery in March traded lower by 0.70 paise, or 0.16%, to Rs 434.30 per 10 kg in 36 lots.

Market analysts said offloading of positions by speculators amid low demand in the spot market mainly weighed on crude palm oil prices at futures trade.