BS:Crude palm oil down by 0.8% on weak spot demand
Crude palm oil prices fell by 0.82% to Rs 504.50 per 10 kg in futures trade today on selling by speculators following weak spot market trend on adequate stocks position.
At the Multi Commodity Exchange, crude palm oil for August delivery fell by Rs 4.20, or 0.82%, to Rs 504.50 per 10 kg, with a trade volume of 197 lots.
Similarly, oil for delivery in September declined by Rs 3, or 0.59%, to Rs 500.80 per 10 kg, with a trading volume of 321 lots.
Traders said selling by speculators amid a weakening trend in spot markets and adequate stocks position in domestic markets mainly led to the fall in crude palm oil prices in the futures trade.
