Crude palm oil softens 0.37% as low spot demand hurts

Crude palm oil prices dipped 0.37 per cent to Rs 460.10 per 10 kg in futures trade today as participants trimmed positions amid subdued demand in the spot market.
Besides, adequate stock position in the physical market on higher supplies from producing belts put pressure.
At Multi Commodity Exchange, crude palm oil for delivery in July fell Rs 1.70, or 0.37 per cent, to Rs 460.10 per 10 kg in business turnover of six lots.
Similarly, the oil for delivery in June contracts edged down Rs 1.50, or 0.33 per cent, to Rs 459.80 per 10 kg in 14 lots.

Marketmen said offloading of positions by speculators, triggered by low demand in the spot market against adequate stock position, mainly led to decline in crude palm oil prices.