Crude palm down on sluggish demand

Adequate stocks also pulled prices lower

Crude palm oil fell for the second day in a row losing Rs 2.90 to Rs 562.50 per 10 kg in futures trade today due to slackened demand against adequate stocks position.

At the Multi Commodity Exchange, crude palm oil for delivery in July declined by Rs 2.90, or 0.51%, to Rs 562.50 per 10 kg, with a business turnover of 578 lots.

The August contract shed Rs 2.40, or 0.42%, to Rs 566.50 per 10 kg, with a business turnover of 572 lots.

Analysts said sluggish demand in the spot market against adequate stocks availability mainly kept pressure on crude palm oil prices at futures trade.