Crude palm oil falls by 0.7% on low demand

Crude palm oil prices were down 0.74% at Rs 413.70 per 10 kg in futures trade today after traders reduced their exposure, triggered by muted demand at the spot market.

At the Multi Commodity Exchange, crude palm oil for delivery in October eased by Rs 3.10, or 0.74% to Rs 413.70 per 10 kg in a business turnover of 136 lots.

On similar lines, the oil for delivery in November traded lower by Rs 2.90, or 0.69% to Rs 417.80 per 10 kg in 52 lots.

Market analysts said offloading of positions by traders following sluggish demand at the spot market against adequate stocks position, mainly weighed on crude palm oil prices in futures trade.