Muted demand drags down crude palm oil futures by 0.66%

Market analysts said offloading of positions by traders influenced crude palm oil prices at futures trade

Crude palm oil prices fell 0.66 per cent to Rs 494.50 per 10 kg in futures trade on Monday as participants trimmed their exposure, tracking easing demand in the spot market against sufficient stocks position.

At the Multi Commodity Exchange, crude palm oil for delivery in November declined by Rs 3.30, or 0.66 per cent, to Rs 494.50 per 10 kg, in a business turnover of five lots.

Similarly, the oil for delivery in October shed Rs 1.50, or 0.29 per cent, to Rs 510.30 per 10 kg in 61 lots.

Market analysts said offloading of positions by traders owing to slackened demand in the spot market against adequate stocks position mainly influenced crude palm oil prices at futures trade.