Crude palm oil futures fall 0.33% on tepid demand

Crude palm oil prices eased by 0.33 per cent in futures trade in the evening session today owing to slackened demand in the spot market against adequate stocks.
The Multi Commodity Exchange (MCX) remained closed for morning session on account Diwali (Bali Pratipada).
At the MCX, crude palm oil for delivery in November month declined by Rs 1.30, or 0.33 per cent to Rs 397 per 10 kg in business turnover of 28 lots.
Similarly, the oil for delivery in December contracts traded lower by a similar margin to Rs 403.70 per 10 kg in 20 lots.
Market analysts said offloading of positions by traders due to muted demand in the spot market against adequate stocks position on higher supplies from producing regions, mainly influenced prices at futures trade.