BS:Crude palm oil falls 0.44 pc on sluggish demand, global cues
Crude palm oil prices declined by 0.44 per cent to Rs 608.60 per 10 kg in futures trading today as speculators reduced holdings amid sluggish spot demand.
At the Multi Commodity Exchange, crude palm oil for delivery in March moved down by Rs 2.70, or 0.44 per cent, to Rs 608.60 per 10 kg in a business turnover of 676 lots.
Similarly, the oil for delivery in April declined by Rs 2.30, or 0.38 per cent, to Rs 608 per 10 kg in 997 lots.
Market analysts said speculators reduced holdings on sluggish demand in the spot market amid weak global trend that mainly kept pressure on crude palm oil at futures trade.
Meanwhile, palm oil for May delivery retreated 1.1 per cent to USD 876 per tonne, the biggest decline since February 27 on the Malaysia Derivatives Exchange.
