 "Crude palm oil declines by 1.1% on subdued demand")
Crude palm oil prices declined by 1.09% to Rs 443.60 per 10 kg in futures trade today as speculators trimmed positions, tracking a weak trend at spot market on subdued demand.
Further, adequate stocks position in the physical market on higher arrivals from producing regions fuelled the downtrend.
At the Multi Commodity Exchange, crude palm oil for delivery in November declined by Rs 4.90, or 1.09% to Rs 443.60 per 10 kg in business turnover of 175 lots.
Market analysts said offloading of positions by speculators owing to weak demand in the spot markets against adequate stocks position led to the fall in crude palm oil futures.
Further, adequate stocks position in the physical market on higher arrivals from producing regions fuelled the downtrend.
At the Multi Commodity Exchange, crude palm oil for delivery in November declined by Rs 4.90, or 1.09% to Rs 443.60 per 10 kg in business turnover of 175 lots.
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Similarly, the oil for delivery in October shed Rs 3.50, or 0.78% to Rs 442.50 per 10 kg in 113 lots.
Market analysts said offloading of positions by speculators owing to weak demand in the spot markets against adequate stocks position led to the fall in crude palm oil futures.