MARKET DEVELOPMENT
Crude Palm Oil Futures Fall on Subdued Demand
Crude Palm Oil Futures Fall on Subdued Demand
15/03/2016 (Economic Times) - Crude palm oil prices were down by Rs 2.70 to Rs 504 per 10 kg in futures trade today as traders offloaded positions due to subdued demand in spot market.
At the Multi Commodity Exchange, crude palm oil for delivery in current month eased by Rs 2.70 or 0.53 per cent to Rs 504 per 10 kg in a business turnover of 205 lots.
The oil for delivery in April traded lower by Rs 2.50 or 0.48 per cent to Rs 509.20 per 10 kg in 386 lots.
Marketmen said apart from muted demand at the spot markets, higher supplies from producing areas and weak trend at overseas markets weighed on crude palm oil prices at futures trade.
At the Multi Commodity Exchange, crude palm oil for delivery in current month eased by Rs 2.70 or 0.53 per cent to Rs 504 per 10 kg in a business turnover of 205 lots.
The oil for delivery in April traded lower by Rs 2.50 or 0.48 per cent to Rs 509.20 per 10 kg in 386 lots.
Marketmen said apart from muted demand at the spot markets, higher supplies from producing areas and weak trend at overseas markets weighed on crude palm oil prices at futures trade.