Crude palm oil futures slide on sluggish demand

Crude palm oil fell 0.81 per cent to Rs 416 per 10 kg in futures trade today, driven by subdued demand at the spot market.
Furthermore, adequate stock position in the physical market on higher supplies from producing belts pulled down the prices.
At Multi Commodity Exchange, crude palm oil for delivery in September fell by Rs 3.40, or 0.81 per cent to Rs 416.00 per 10 kg in a business turnover of 23 lots.
The oil for delivery in August contracts traded lower by Rs 3.30, or 0.79 per cent to Rs 413.20 per 10 kg in 105 lots.

Market analysts attributed the fall in crude palm oil futures to offloading of positions by speculators, driven by low demand at the spot market.