Crude palm oil down marginally on weak demand

Traders trim exposure on sluggish overseas trend and build up of inventory at home

Crude palm oil prices fell by Rs 1.60 to 565.40 per kg in futures trade today as speculators reduced their exposures largely on subdued spot demand.
    
At the Multi Commodity Exchange, crude palm oil for January delivery shed Rs 1.60, or 0.28 per cent, to Rs 565.40 per 10 kg with a turnover of 212 lots.
    
The December contract lost one rupee, or 0.17 per cent, to Rs 562 per 10 kg, with trading volume of 149 lots.

    
Traders said reports of a weakening trend in the domestic market amid adequate stocks, mainly led to a fall in crude palm oil prices in the future trade and weak trend overseas, capped the losses.
      
Meanwhile, in Malaysia palm oil in February delivery fell by 0.40 per cent to 2,651 ringgit, or $829 per tonne on the Malaysia Derivatives Exchange.