Crude palm oil down by 1.5% on low demand

Falling for the third straight day, crude palm oil prices dropped by 1.46% to Rs 404.50 per 10 kg in futures trading today as participants trimmed their positions, tracking a weak trend at spot market on muted demand.

Besides, adequate stocks on higher supplies from producing regions kept pressure on crude palm oil prices.

At the Multi Commodity Exchange, crude palm oil for delivery in December month fell Rs 6, or 1.46% to Rs 404.50 per 10 kg in business turnover of 179 lots.

Likewise, the oil for delivery in far-month January contracts traded lower by Rs 5.60, or 1.33% to Rs 417 per 10 kg in 86 lots.
 
Analysts said offloading of positions by speculators amid subdued demand in the spot market against sufficient stocks kept crude palm oil prices lower at futures trade.