Crude palm oil falls by 1% on tepid demand

Crude palm oil remained weak and prices were down further by 1.05% to Rs 394 per 10 kg in futures market today as stockists reduced positions, taking negative cues from spot market.

At the MCX, crude palm oil for delivery in December fell Rs 4.20, or 1.05% to Rs 394 per 10 kg in business turnover of 139 lots.

Similarly, the oil for delivery in November contracts eased by Rs 3.30, or 0.84% to Rs 388.20 per 10 kg in 205 lots.

Market analysts said offloading of positions by traders due to sluggish demand in the spot market against adequate stocks position on higher supplies from producing regions, mainly kept pressure on crude palm oil prices at futures trade.