Crude palm oil futures soften 0.11% on subdued demand

Crude palm oil prices eased by 0.11 per cent to Rs 446.70 per 10 kg in futures trade today as speculators trimmed positions amid sluggish demand in the spot markets against adequate stocks position.

At the Multi Commodity Exchange, crude palm oil for delivery in November weakened by 50 paise, or 0.11 per cent, to Rs 446.70 per 10 kg in a business turnover of 15 lots.

Similarly, the oil for delivery in December edged down by 10 paise, or 0.02 per cent, to Rs 451.50 per 10 kg in 37 lots.

Market analysts said offloading of positions by speculators on the back of low demand in the spot markets against higher supplies mainly led to the fall in crude palm oil prices at futures trade.