BS:Crude palm oil futures soften 0.20% as demand declines
Crude palm oil prices fell by 0.20 per cent to Rs 549.40 per 10 kg in futures market today as speculators reduced holdings amid fall in demand in the spot market.
At the Multi Commodity Exchange, crude palm oil for delivery in May traded lower by Re 1, or 0.20 per cent, to Rs 549.40 per 10 kg in a business turnover of 47 lots.
Similarly, the oil for delivery in June shed 70 paise, or 0.13 per cent, to Rs 545.50 per 10 kg in 39 lots.
Analysts said offloading of positions by speculators in the spot market against adequate stocks position mainly influenced crude palm oil prices at futures trade.
