MARKET DEVELOPMENT
Crude Palm Oil Futures Decline 0.36% on Muted Demand
Crude Palm Oil Futures Decline 0.36% on Muted Demand
19/11/2015 (Business Standard) - Crude palm oil prices were down by 0.36 per cent to Rs 386.70 per 10 kg in futures market today as participants offloaded positions owing to slackened demand in spot markets.
Besides, adequate stocks position in the physical market on higher supplies from the major producing regions put pressure crude palm oil prices.
At the Multi Commodity Exchange, crude palm oil for delivery in November fell by Rs 1.40, or 0.36 per cent to Rs 386.70 per 10 kg in business turnover of 42 lots.
Likewise, the oil for delivery in December contracts shed Re 1, or 0.25 per cent to Rs 394 per 10 kg in 23 lots.
Analysts said besides fall in demand in the spot market, adequate stocks position on higher supplies from producing belts mainly led to a fall in crude palm oil prices at futures trade.
Besides, adequate stocks position in the physical market on higher supplies from the major producing regions put pressure crude palm oil prices.
At the Multi Commodity Exchange, crude palm oil for delivery in November fell by Rs 1.40, or 0.36 per cent to Rs 386.70 per 10 kg in business turnover of 42 lots.
Likewise, the oil for delivery in December contracts shed Re 1, or 0.25 per cent to Rs 394 per 10 kg in 23 lots.
Analysts said besides fall in demand in the spot market, adequate stocks position on higher supplies from producing belts mainly led to a fall in crude palm oil prices at futures trade.