Palm oil down 0.3% on subdued demand

Market analysts said offloading of positions by speculators due to subdued demand in the spot market against adequate supplies, led to the fall

Crude palm oil prices fell 0.38% to Rs 564.70 per 10 kg in futures trading today as speculators offloaded positions due to subdued demand in the spot market.

At the Multi Commodity Exchange, crude palm oil for delivery in April fell by Rs 2.20, or 0.38%, to Rs 564.70 per 10 kg in business turnover of 59 lots.

Likewise, the oil for delivery in May traded lower by Rs 1.80, or 0.31%, to Rs 561.90 per 10 kg in 42 lots.

Market analysts said offloading of positions by speculators due to subdued demand in the spot market against adequate supplies, mainly led to a fall in crude palm oil futures prices.