Palm oil down 0.1% on weak trend

Crude palm oil prices softened by 0.13 per cent to Rs 446.10 per 10 kg in futures trade today as speculators trimmed positions, tracking a weak trend at the spot market on muted demand against adequate stock position.

At Multi Commodity Exchange, crude palm oil for delivery in July was trading 60 paise, or 0.13 per cent, down at Rs 446.10 per 10 kg in a business turnover of 17 lots.

On similar lines, the oil for delivery in August contracts traded lower by 50 paise, or 0.11 per cent, to Rs 446.00 per 10 kg in 2 lots.

Market analysts said offloading of positions by speculators, triggered by sluggish demand, mainly weighed on crude palm oil prices.