Crude palm oil sheds 0.9% on low demand

Higher supplies from producing areas, weak trend abroad fuel add to downward pressure on prices

Crude palm oil prices fell by Rs 3.80 to Rs 417.10 per 10 kg in futures trade today as traders offloaded positions due to subdued demand in spot market.

Further, higher supplies from major producing areas and weak trend at overseas markets weighed on crude palm oil prices at futures trade, analysts said.

At the Multi Commodity Exchange, crude palm oil for delivery in November fell by Rs 3.80, or 0.90 per cent, to Rs 417.10 per 10 kg in a business turnover of 569 lots.

The oil for delivery in the current month traded lower by Rs 2.60, or 0.61 per cent, to Rs 417 per 10 kg in 346 lots.