Crude palm oil futures weaken by 0.17% on low demand

Crude palm oil prices softened by 0.17 per cent to Rs 514.40 per 10 kg in futures market today as traders reduced exposure due to easing demand in the spot market against adequate stocks position.

At the Multi Commodity Exchange, crude palm oil for delivery in August declined by 90 paise, or 0.17 per cent to Rs 514.40 per 10 kg in business turnover of 424 lots.

On similar lines, the oil for delivery in September, however, held steady at Rs 514.20 per 10 kg in 408 lots.

Market analysts said offloading of positions by participants following decline in demand in the spot market against ample stocks position on higher supplies from producing belts, mainly weighed on crude palm oil prices at futures trade.

(This article has not been edited by DNA's editorial team and is auto-generated from an agency feed.)