ET:Crude palm oil futures weaken on subdued demand
NEW DELHI: Crude palm oil prices weakened by Rs 1.20 to Rs 503.40 per 10 kg in futures trade today owing to subdued demand in the spot market against adequate stocks position.
At the Multi Commodity Exchange, crude palm oil for delivery in July declined by Rs 1.20, or 0.24 per cent, to Rs 503.40 per 10 kg in business turnover of 106 lots.
Similarly, the oil for delivery in June traded lower by 80 paise, or 0.16 per cent, to Rs 503.40 per 10 kg in 63 lots.
Analysts attributed the weakness in crude palm oil futures to subdued demand in the spot market against adequate stocks position.
