Crude palm oil down 0.7% on subdued demand

Adequate stocks influence prices

Crude palm oil prices softened by Rs 3.90 to Rs 532.60 per 10 kg in futures trading today due to sluggish spot market demand against adequate stocks.

At the Multi Commodity Exchange, crude palm oil for delivery in October declined by Rs 3.90, or 0.73%, to Rs 532.60 per 10 kg, with a business turnover of 258 lots.

The September contract shed Rs 3.10, or 0.58%, to Rs 529.70 per 10 kg, with a business turnover of 129 lots.

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