Low demand pulls down crude palm oil futures

Crude palm oil prices were down by 0.80 per cent to Rs 432.80 per 10 kg in futures trade today as speculators trimmed positions amid sluggish demand at the spot market.

At the Multi Commodity Exchange, crude palm oil for delivery in August fell by Rs 3.50, or 0.80 per cent to Rs 432.80 per 10 kg in a business turnover of 155 lots.

Similarly, the oil for delivery in July contracts slipped by Rs 3.10, or 0.71 per cent to Rs 432.60 per 10 kg in 185 lots.

Market analysts attributed the weakness in crude palm oil futures to offloading of positions by speculators due to subdued demand at the spot market.