Crude palm oil falls by 0.1% on muted demand

Crude palm oil prices shed another 0.12% to Rs 406 per 10 kg in futures trade today as participants engaged in reducing their positions, taking negative cues from spot market on subdued demand.

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

At the Multi Commodity Exchange, crude palm oil for delivery in December month declined 50 paise or 0.12% to Rs 406 per 10 kg in business turnover of 17 lots.

On similar lines, the oil for delivery in far-month January contracts eased by 40 paise or 0.10% to Rs 417.60 per 10 kg in 3 lots.
 
Analysts said offloading of positions by traders, driven by sluggish demand in the spot market against adequate stocks kept crude palm oil prices lower at futures trade.