Crude palm oil weakens 0.32% on subdued demand

Adequate stocks influence prices

Crude palm oil prices weakened by 0.32% to Rs 556.90 per 10 kg in futures trading today due to sluggish demand in the spot market against adequate stocks position.

At the Multi Commodity Exchange, crude palm oil for delivery in September weakened by Rs 1.20, or 0.32%, to Rs 556.90 per kg, with a business turnover of 359 lots.

The August contract traded lower by 80 paise, or 0.14%, to Rs 551.50 per kg, with a business turnover of 152 lots.

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