Crude palm oil down 1.1% on low spot demand

Traders offload positions as stocks pile up in the physical market

Crude palm oil prices were down 1.10 per cent at Rs 413.60 per 10 kg in futures trading today due to weak demand at spot markets.

At the Multi Commodity Exchange, crude palm oil for delivery in November month fell by Rs 4.60, or 1.10 per cent to Rs 413.60 per 10 kg in business turnover of 246 lots.

On similar lines, the oil for delivery in October eased by Rs 4.10, or 0.99 per cent to Rs 411 per 10 kg in 65 lots.

Market analysts said offloading of positions by traders amid subdued demand in spot markets against adequate stocks position weighed on futures prices.