Crude palm oil futures remain weak on subdued demand

NEW DELHI, Aug 21:  Crude palm oil prices fell 0.60 per cent to Rs 460.50 per 10 kg in futures market today as speculators trimmed positions amid a weak trend at spot market on sluggish demand.
At the Multi Commodity Exchange, crude palm oil for delivery in September fell by Rs 2.80, or 0.60 per cent, to Rs 460.50 per 10 kg in a business turnover of 79 lots.
Similarly, the oil for delivery in August traded lower by Rs 1.70, or 0.35 per cent, to Rs 480.10 per 10 kg in 45 lots.
Analysts said offloading of positions by speculators amidst sluggish demand in the spot market and a weak global trend mainly led to the fall in crude palm oil prices at futures trade.
Meanwhile, palm oil fell to 2,045 ringgit yesterday, the lowest level since October 2009 on the Malaysia Derivatives Exchange. (PTI)

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