BS:Crude palm oil falls marginally on sluggish demand
Crude palm oil prices fell by 0.10% to Rs 606.80 per 10 kg in futures trading today as speculators reduced their positions on the back of sluggish demand in the spot market.
Adequate stocks position in the physical market also put pressure on crude palm oil prices.
At the MCX, crude palm oil for delivery in May traded marginally lower by 60 paise, or 0.10% to Rs 606.80 per 10 kg in business turnover of 255 lots.
Likewise, the oil for delivery in the June contract shed 40 paise, or 0.07%, to Rs 608.80 per 10 kg in 328 lots.
Market analysts said subdued demand in the spot market against adequate stocks position mainly helped crude palm oil prices to trade lower at futures trade.
