Crude palm oil futures down on weak demand
Agencies: New Delhi, Dec 11 2012, 13:57 IST
Crude palm oil prices fell by Rs 2.20 to 411.50 per kg in futures trade today as speculators reduced their exposures largely on subdued spot demand.
At the Multi Commodity Exchange, crude palm oil for the December contract fell by Rs 2.20, or 0.53 per cent, to Rs 411.50 per 10 kg with a turnover of 167 lots. Similarly, the oil for delivery in January fell by Rs 2.10, or 0.50 per cent, to Rs 415.60 per 10 kg, with trading volume of 168 lots.
Traders said reports of a weakening trend in the domestic market amid adequate stocks, mainly led to a fall in crude palm oil prices in the future trade but firm trend overseas, capped the losses.
Meanwhile, in Malaysia palm oil in February delivery up by 0.50 per cent to 2,324 ringgit, or USD 758 per tonne on the Malaysia Derivatives Exchange.
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