MARKET DEVELOPMENT
Crude Palm Oil Declines by 0.6% on Low Demand
Crude Palm Oil Declines by 0.6% on Low Demand
25/03/2015 (Business Standard) - Crude palm oil prices were down by 0.63% to Rs 444 per 10 kg in futures trade today as participants offloaded positions, taking weak cues from the spot market.
In addition, adequate stocks position in the physical market on higher supplies from producing belts fuelled the downtrend.
At the Multi Commodity Exchange, crude palm oil for delivery in April traded lower by Rs 2.80, or 0.63% to Rs 444.00 per 10 kg in business turnover of 51 lots.
Similarly, the oil for delivery in March contracts edged down by Rs 2.30, or 0.52% to Rs 438.80 per 10 kg in 14 lots.
Marketmen said apart from fall in demand in the spot market, adequate stocks position in the physical market on higher supplies from producing belts influenced crude palm oil prices at futures trade.
In addition, adequate stocks position in the physical market on higher supplies from producing belts fuelled the downtrend.
At the Multi Commodity Exchange, crude palm oil for delivery in April traded lower by Rs 2.80, or 0.63% to Rs 444.00 per 10 kg in business turnover of 51 lots.
Similarly, the oil for delivery in March contracts edged down by Rs 2.30, or 0.52% to Rs 438.80 per 10 kg in 14 lots.
Marketmen said apart from fall in demand in the spot market, adequate stocks position in the physical market on higher supplies from producing belts influenced crude palm oil prices at futures trade.