Crude palm oil futures down 0.36% on muted demand

Crude palm oil prices drifted lower by 0.36 per cent to Rs 552.20 per 10 kg in futures market today as traders reduced exposure amid easing demand in the spot market against adequate stocks position.
At the Multi Commodity Exchange, crude palm oil for delivery in November declined by Rs 2, or 0.36 per cent to Rs 552.20 per 10 kg in business turnover of 53 lots.
Similarly, the oil for delivery in far-month December traded lower by Rs 1.80, or 0.32 per cent to Rs 553 per 10 kg in 14 lots.
Analysts said offloading of positions by participants due to sluggish demand in the physical market against ample stocks position on increased supplies from growing regions, mainly led to decline in crude palm oil prices at futures trade.