Palm oil down 0.3% on muted demand

Amid muted domestic demand and higher supplies from producing regions, crude palm oil prices eased by 0.25 per cent to Rs 401 per 10 kg in futures trade today.

At the Multi Commodity Exchange, crude palm oil for delivery in November declined by Re 1, or 0.25 per cent, to Rs 401 per 10 kg in a business turnover of 32 lots.

On similar lines, the oil for delivery in December shed 80 paise, or 0.20 per cent, to Rs 408.90 per 10 kg in 44 lots.

Marketmen said offloading of positions by participants amid subdued demand in the spot market against adequate stocks position on higher supplies from producing belts, mainly helped crude palm oil prices to decline at futures trade.