Palm Oil Down 0.5% on Low Demand

Amid subdued demand in the spot markets, crude palm oil prices traded lower by 0.57% to Rs 544 per 10 kg in futures trade today as speculators trimmed positions.

At the Multi Commodity Exchange, crude palm oil for delivery in June declined by Rs 3.10, or 0.57% to Rs 544 per 10 kg in business turnover of 251 lots.

Likewise, the oil for delivery in May shed Rs 1.90, or 0.35% to Rs 548.20 per 10 kg in 139 lots.

Analysts said offloading of positions by speculators triggered by subdued spot demand against higher supplies, mainly kept pressure on crude palm oil prices at futures trade.

 

Source : Business Standard

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