Crude palm oil futures remain weak, down 0.79 pc on low demand
Crude palm oil prices declined further by 0.79 per cent to Rs 543 per 10 kg in futures trading today as speculators continued to trim positions amid easing demand in the spot market.
Besides, ample stocks on increased supplies from producing belts too fuelled the downtrend.
At the Multi Commodity Exchange, crude palm oil for delivery in current month fell by Rs 4.30, or 0.79 per cent, to Rs 543 per 10 kg, in a business turnover of 482 lots.
Likewise, the oil for delivery in October traded lower by Rs 3.40, or 0.63 per cent, to Rs 538.50 per 10 kg in 365 lots.
Analysts said cutting down of positions by traders due to subdued demand in the spot market against sufficient stocks position mainly attributed the slide in crude palm oil prices at futures trade.
(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)
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