ET:Crude palm oil futures weaken on subdued demand
NEW DELHI: Crude palm oil prices weakened by 0.32 per cent to Rs 556.90 per 10 kg in futures trading today due to sluggish demand in the spot market against adequate stocks position.
At the Multi Commodity Exchange, crude palm oil for delivery in September weakened by Rs 1.20, or 0.32 per cent, to Rs 556.90 per kg, with a business turnover of 359 lots.
Similarly, the oil for delivery in August traded lower by 80 paise, or 0.14 per cent, to Rs 551.50 per kg, with a business turnover of 152 lots.
Marketmen said subdued demand in the spot market against adequate stocks position mainly influenced crude palm oil prices at futures trade.
