ET:Crude palm oil futures remain weak on sluggish demand
NEW DELHI: Crude palm oil remained weak for the second day and prices fell further by 0.35 per cent to Rs 543.60 per 10 kg in futures trading on Monday as participants trimmed positions amid sluggish demand in the spot market.
At the Multi Commodity Exchange, crude palm oil for delivery in June fell further by Rs 1.90, or 0.35 per cent to Rs 543.60 per 10 kg in business turnover of 8 lots.
Similarly, the oil for delivery in May traded lower by Rs 1.50, or 0.27 per cent to Rs 548 per 10 kg in 29 lots. Marketmen attributed the fall in crude palm oil futures to sluggish demand in the spot market against adequate stocks position.
