Palm oil down 0.1% on adequate supply

Oil for delivery in June contracts shed 0.02%

Crude palm oil remained weak for the second day with prices falling by another 0.15% to Rs 526 per 10 kg in futures trade today as speculators trimmed positions amidst fall in demand in the spot market.

At the Multi Commodity Exchange, crude palm oil for delivery in July declined by 80 paise, or 0.15%, to Rs 526 per 10 kg in business turnover of 101 lots.

Similarly, the oil for delivery in June contracts shed 10 paise, or 0.02%, to Rs 528.80 per 10 kg in 28 lots.

Analysts said, besides fall in demand in the spot market, supply pressure mainly influenced crude palm oil prices in futures trade.