Crude palm oil slides by 1.1% on subdued demand

Crude palm oil prices declined by 1.09% to Rs 515.50 per 10 kg in futures trading today as speculators reduced their positions due to sluggish demand in the spot market against adequate supplies.

 

At the Multi Commodity Exchange, crude palm oil for delivery in November moved down by Rs 5.70, or 1.09% to Rs 515.50 per 10 kg in business turnover of 15 lots.

 

Likewise, the oil for delivery in October lost Rs 5.30, or 1.01% to Rs 520.30 per 10 kg in 64 lots.

 

Analysts attributed the fall in crude palm oil futures to sluggish demand in the spot market against adequate supplies.