Palm oil down 1% on subdued demand

Crude palm oil prices fell Rs 5 to Rs 399.90 per 10 kg in futures trade today as participants offloaded positions due to subdued demand in spot markets.

Besides, higher supplies from the major producing areas and weak trend at overseas market put pressure crude palm oil prices.

At the Multi Commodity Exchange, crude palm oil for delivery in December fell by Rs 5, or 1.23%, to Rs 399.90 per 10 kg in a business turnover of 178 lots.

The oil for delivery in November traded lower by Rs 4.50, or 1.13%, to Rs 393.10 per 10 kg in 206 lots.
 

Marketmen said apart from subdued demand, adequate stocks position in the physical market and a weak trend overseas put pressure on crude palm oil prices at futures trade.