Palm oil down 0.1% on sluggish demand

Market analysts said besides sluggish demand in the spot market, adequate stocks position mainly weighed on the prices

Crude palm oil prices fell 0.11% to Rs 563.70 per 10 kg in futures trading today as speculators reduced positions due to sluggish demand in the spot market against adequate stocks in the physical market.

At the Multi Commodity Exchange, crude palm oil for delivery in May declined by 60 paise, or 0.11%, to Rs 563.70 per 10 kg in a business turnover of 46 lots.

Similarly, the oil for delivery in April weakened by 50 paise, or 0.11%, to Rs 561.20 per 10 kg in 54 lots.

Market analysts said besides sluggish demand in the spot market, adequate stocks position mainly weighed on crude palm oil prices at futures trade.