Crude palm oil futures decline on subdued demand

Crude palm oil prices weakened by Rs 2.50, or 0.59 per cent, to Rs 422.50 per 10 kg in futures trade today owing to slack demand against adequate supply in the physical markets.

At the Multi Commodity Exchange counter, crude palm oil for November-month delivery declined by Rs 2.50, or 0.59 per cent, to Rs 422.50 per 10 kg, with a business turnover of one lot.

Similarly, the oil for delivery in October-month traded lower by Rs 2.40, or 0.56 per cent, to Rs 423.00 per 10 kg, with a business volume of single lot.

Marketmen said subdued demand in the spot market, against adequate stocks position helped crude palm oil prices to trade lower at futures trade.