Crude palm oil futures soften by 0.13% on sluggish demand

Crude palm oil prices shed 0.13 per cent to Rs 526.30 per 10 kg in futures trade today as traders reduced exposure due to lower demand in the spot market against adequate stocks position.

At the Multi Commodity Exchange, crude palm oil for delivery in October drifted down by 70 paise, or 0.13 per cent to Rs 526.30 per 10 kg in business turnover of 9 lots.

Likewise, the oil for delivery in September contracts was trading lower by Rs 60 paise, or 0.11 per cent to Rs 526.50 per 10 kg in 124 lots.

Market analysts said offloading of positions by participants owing to slackened demand in the physical market against adequate stocks position mainly weighed on crude palm oil prices at futures trade.