Crude palm oil weakens by 0.3% on subdued demand

Crude palm oil prices weakened by Rs 1.40 to Rs 517.30 per 10 kg in futures trading today as speculators reduced their positions, tracking a weak trend at spot market on subdued demand against adequate position.

 

At the Multi Commodity Exchange, crude palm oil for deliver in far-month October declined by Rs 1.40, or 0.27% to Rs 517.30 per 10 kg in business turnover of 59 lots.

 

Similarly, the oil for delivery in September traded lower by Re 1, or 0..19% to Rs 518 per 10 kg in 214 lots.

 

Traders said speculators reduced their positions, tracking a weak trend at spot market on subdued demand against adequate stocks position, mainly influenced crude palm oil prices at futures trade.