Crude palm oil futures soften on sluggish demand

NEW DELHI: Crude palm oil futures prices today fell by 0.14 per cent to Rs 558.80 per 10 kg due to slackness in demand in the spot market against adequate supply.

At the Multi Commodity Exchange, crude palm oil for delivery in June traded lower by 70 paise, or 0.14 per cent, to Rs 558.80 per 10 kg in business turnover of 221 lots.

Similarly, the oil for delivery in July weakened by 50 paise, or 0.09 per cent, to Rs 559 per 10 kg in 321 lots.

Marketmen said sluggish demand in the spot market against adequate stocks position, mainly put pressure on crude palm oil prices at futures trade.