Palm oil down 0.3% on subdued demand
Market analysts said offloading positions by speculators due to subdued demand in the spot market against adequate supplies
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Crude palm oil prices fell by 0.36% to Rs 542.50 per 10 kg in futures trading today as speculators offloaded their positions due to subdued demand in the spot market against sufficient supplies.
At the Multi Commodity Exchange, crude palm oil for delivery in March softened by Rs 2, or 0.36%, to Rs 542.50 per 10 kg in business turnover of 41 lots.
Likewise, the oil for delivery in February traded lower by Rs 1.90, or 0.35%, to Rs 537.30 per 10 kg in 94 lots.
Market analysts said offloading positions by speculators due to subdued demand in the spot market against adequate supplies.
Globally, the palm oil for April delivery fell as much as 0.80% to 2,570 ringgit ($769) a metric tonne on the Malaysia Derivatives Exchange today.
At the Multi Commodity Exchange, crude palm oil for delivery in March softened by Rs 2, or 0.36%, to Rs 542.50 per 10 kg in business turnover of 41 lots.
Likewise, the oil for delivery in February traded lower by Rs 1.90, or 0.35%, to Rs 537.30 per 10 kg in 94 lots.
Market analysts said offloading positions by speculators due to subdued demand in the spot market against adequate supplies.
Globally, the palm oil for April delivery fell as much as 0.80% to 2,570 ringgit ($769) a metric tonne on the Malaysia Derivatives Exchange today.
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First Published: Jan 27 2014 | 12:44 PM IST