Crude palm oil falls by 0.3% on muted demand

Crude palm oil prices eased further by 0.30% to Rs 405 per 10 kg in futures trading today as participants engaged in reducing their positions, tracking a weak trend at spot market on sluggish demand.

Besides, adequate stocks on higher supplies from producing regions weighed on prices.

At the Multi Commodity Exchange, crude palm oil for delivery in December declined by Rs 1.20, or 0.30%, to Rs 405 per 10 kg in a business turnover of 26 lots.

Likewise, the oil for delivery in far-month January 2016 traded lower by 70 paise, or 0.17%, to Rs 419 per 10 kg in 12 lots.
 

Analysts said offloading of position by traders on the back of subdued demand in the spot market against ample stocks on higher supplies from producing regions kept crude palm oil prices lower at futures trade.