Palm oil down 0.1% on subdued demand

Oil for delivery in October traded lower by 0.02%

Crude palm oil prices fell 0.07% to Rs 458.60 per 10 kg in futures trade today as speculators indulged in reducing positions amid sluggish demand in the spot market.

Besides, adequate stocks position in the physical market influenced crude palm oil prices.

At the Multi Commodity Exchange, crude palm oil for delivery in November shed 30 paise, or 0.07%, to Rs 458.60 per 10 kg in a business turnover of 30 lots.

Likewise, the oil for delivery in October traded lower by 10 paise, or 0.02%, to Rs 464.50 per 10 kg in 118 lots.

Market analysts said offloading of positions by speculators due to sluggish demand in the spot market against adequate stocks position mainly weighed on crude palm oil prices at futures trade.