 "Crude palm oil weaken by 0.2% on sluggish demand")
Crude palm oil prices weakened by 0.20% to Rs 539.20 per 10 kg in futures market today as speculators offloaded their positions, tracking a weak trend at spot market on sluggish demand.
Further, adequate stocks availability in the physical market also put pressure on crude palm oil prices.
At the Multi Commodity Exchange, crude palm oil for delivery in March declined by Rs 1.10, or 0.20%, to Rs 539.20 per 10 kg in business turnover of 8 lots.
Market analysts said offloading of positions by speculators on sluggish demand in the spot market against adequate stocks position, mainly led to decline in crude palm oil prices at futures trade.
Further, adequate stocks availability in the physical market also put pressure on crude palm oil prices.
At the Multi Commodity Exchange, crude palm oil for delivery in March declined by Rs 1.10, or 0.20%, to Rs 539.20 per 10 kg in business turnover of 8 lots.
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Similarly, the oil for delivery in February shed 90 paise, or 0.17%, to Rs 533.80 per 10 kg in 8 lots.
Market analysts said offloading of positions by speculators on sluggish demand in the spot market against adequate stocks position, mainly led to decline in crude palm oil prices at futures trade.