Palm oil down 0.7% on subdued demand

Oil for delivery in April traded lower by 0.61%

Crude palm oil prices fell 0.78% to Rs 600.10 per 10 kg in futures market today on subdued demand in the spot market against adequate stocks position.

At the Multi Commodity Exchange, crude palm oil for delivery in March fell further by Rs 4.70, or 0.78%, to Rs 600.10 per 10 kg in a business turnover of 214 lots.

Similarly, oil for delivery in April traded lower by Rs 3.70, or 0.61%, to Rs 599.60 per 10 kg in 219 lots.

Analysts said offloading of positions by speculators following subdued demand in the spot market against adequate stocks position mainly kept pressure on crude palm oil prices at futures trade.