Crude palm oil futures remain weak on low demand

NEW DELHI, July 11: Crude palm oil prices fell further 0.51 per cent to Rs 621 per 10 kg in futures trade today as speculators cut bets, taking negative cues from the spot market on easing demand.
Moreover, adequate stocks position on higher supplies from overseas market weighed on the prices.
At the Multi Commodity Exchange, crude palm oil for delivery in August declined by Rs 3.20, or 0.51 per cent, to Rs 621 per 10 kg in a business turnover of 485 lots.
Similarly, the oil for delivery in the current month was trading down by Rs 2.30, or 0.36 per cent, at Rs 629 per 10 kg in 170 lots.
Analysts said offloading of positions by traders owing to slackened demand against sufficient stocks position kept crude palm oil prices down. (PTI)