Crude palm oil futures fall on subdued demand

Crude palm oil prices fell by Rs 3.10 to Rs 429.20 per 10 kg in futures trade today, as speculators reduced their holdings, driven by a weakening trend at spot markets.

Adequate supply in the physical market also put pressure on the crude palm oil prices.

At the Multi Commodity Exchange counter, crude palm oil for December-month delivery fell Rs 3.10, or 0.72 per cent, to Rs 429.20 per 10 kg, with a business volume of single lot.

Similarly, the oil for delivery in October-month lost Rs 2.60, or 0.60 per cent, to Rs 429.00 per 10 kg, with an open interest of one lot. 

 

Traders said positions reduced by speculators, driven by sluggish demand in physical markets mainly led to a fall in crude palm oil prices at futures market.