Crude palm oil falls 0.72% on sluggish demand

Crude palm oil fell by 0.72% to Rs 567.70 per 10 kg in futures trading today largely in tandem with a weak trend in the spot markets on sluggish demand against adequate stocks.

At the Multi Commodity Exchange, crude palm oil for November delivery fell by Rs 4.10, or 0.72%, to Rs 567.70 per 10 kg in business turnover of 68 lots.

Likewise, December oil shed Rs 4, or 0.70%, to Rs 567.50 per 10 kg in 59 lots.

Analysts said low demand in the spot markets against comfortable stocks positions mainly kept pressure on crude palm oil prices at futures trade.