ET:Crude palm oil futures remain weak on subdued demand
NEW DELHI: Crude palm oil prices fell further by Rs 1.20 to Rs 459 per 10 kg in futures trading today as speculators indulged in reducing positions triggered by subdued demand in the spot market against adequate stocks position.
At the Multi Commodity Exchange, crude palm oil for delivery in March shed Rs 1.20, or 0.26 per cent to Rs 459 per 10 kg in business turnover of 63 lots.
Similarly, the oil for delivery in April traded lower by 70 paise, or 0.15 per cent to Rs 464.80 per 10 kg in 214 lots.
Market analysts said offloading of positions by speculators owing to sluggish demand in the spot market against adequate stocks position mainly kept pressure on crude palm oil prices at futures trade.
