Crude palm oil futures fall on subdued demand

NEW DELHI, Nov 5: Crude palm oil prices fell by Rs 4.70 to Rs 463 per 10 kg in futures trade today as speculators trimmed their exposures amidst sluggish demand in the spot market.

Further, ample stocks position in the physical market following higher supplies from producing regions fuelled the downtrend.

At the Multi Commodity Exchange, crude palm oil for delivery in December fell by Rs 4.70, or 1.00 per cent, to Rs 463 per 10 kg in a business turnover of 332 lots.

Likewise, the oil for delivery in November traded lower by Rs 3.50, or 0.76 per cent, to Rs 455 per 10 kg in 138 lots.

Market analysts said offloading of positions by speculators due to subdued demand in the spot markets against sufficient stocks following higher supplies mainly led to a fall in crude palm oil futures. (PTI)

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