Crude palm oil futures down 0.51% on low demand

Crude palm oil prices fell by 0.51 per cent to Rs 484.50 per 10 kg in futures trading today as speculators indulged in reducing positions, driven by easing demand in the spot markets against adequate stocks.
At the Multi Commodity Exchange, crude palm oil for delivery in August declined by Rs 2.50, or 0.51 per cent to Rs 483.50 per 10 kg in business turnover of 97 lots.
Similarly, the oil for delivery in July contracts shed Rs 1.90, or 0.39 per cent to Rs 490.50 per 10 kg in 161 lots.
Analysts said offloading of positions by traders due to muted demand in the spot market against sufficient stocks position mainly influenced crude palm oil prices at futures trade.