Crude palm oil down 0.2% on subdued demand

Analysts said slackened demand in the spot market against adequate stocks position kept pressure on the commodity

Crude palm oil remained weak and prices declined by Rs 1.50 to Rs 566.50 per 10 kg in futures market today owing to slackened demand against adequate stocks position.

At the Multi Commodity Exchange, crude palm oil for delivery in January declined by Rs 1.50, or 0.26%, to Rs 566.50 per 10 kg in business turnover of 19 lots.

Likewise, the oil for delivery in December traded lower by Rs 1.10, or 0.20%, to Rs 563 per 10 kg in 91 lots.

Analysts said slackened demand in the spot market against adequate stocks position mainly kept pressure on crude palm oil prices at futures trade.