Crude palm oil prices declined by 0.60 per cent to Rs 545.40 per 10 kg in futures trading today as speculators offloaded their positions, driven by a weak demand in the spot market.
At the Multi Commodity Exchange, crude palm oil for delivery in February declined by Rs 3.30, or 0.60 per cent, to Rs 545.40 per 10 kg in business turnover of 33 lots.
Similarly, the oil for delivery in January softened by Rs 3.10, or 0.57 per cent, to Rs 540.10 per 10 kg in 29 lots.
Analysts said offloading of positions by speculators on the back of weak demand in the spot market against adequate stocks position mainly influenced crude palm oil prices at futures trade.
