Crude palm oil futures fall on sluggish demand

NEW DELHI: Crude palm oil prices fell by Rs 2.20 to Rs 559.50 per 10 kg in futures market today owing to sluggish spot market demand against adequate stocks position.

At the Multi Commodity Exchange, crude palm oil for September fell by Rs 2.20, or 0.39 per cent, to Rs 559.50 per 10 kg, with a business turnover of 891 lots.

Similarly, the oil for delivery in August traded lower by Rs 1.80, or 0.35 per cent, to Rs 562.50 per 10 kg in 704 lots.

Marketmen said slackened demand in the spot market against adequate stocks position mainly kept pressure on crude palm oil futures.