Crude palm oil prices declined by Rs 2.50 to Rs 547.70 per 10 kg in futures trading today after speculators reduced positions on the back of a sluggish demand in the spot market against adequate stocks position.
At the Multi Commodity Exchange, crude palm oil for delivery in August declined by Rs 2.50, or 0.45%, to Rs 547.70 per 10 kg, with a business turnover of 572 lots.
The September contract shed Rs 1.90, or 0.44%, to Rs 544.30 per 10 kg in 690 lots.
Marketmen said speculators reduced their positions due to sluggish demand in the spot market against adequate stocks position, influencing crude palm oil prices at futures trade.