Crude palm oil futures slide 0.93% on low demand

Crude palm oil prices fell by 0.93 per cent to Rs 554.80 per 10 kg in futures trade today as traders trimmed positions, taking negative cues from spot market on sluggish demand.
Besides, adequate stocks position on higher supplies from producing regions fuelled the downtrend.
At the Multi Commodity Exchange, crude palm oil for delivery in September drifted lower by Rs 5.20, or 0.93 per cent to Rs 554.80 per 10 kg in business turnover of 208 lots.
Likewise, the oil for delivery in August contracts traded lower by Rs 2.70, or 0.48 per cent to Rs 563 per 10 kg in 51 lots.

Marketmen said besides easing demand in the spot market, adequate stocks position on higher supplies from producing belts mainly led to decline in crude palm oil prices at futures trade.