Crude palm oil futures slide 0.33% on sluggish demand

Crude palm oil prices moved down by 0.33 per cent to Rs 489.40 per 10 kg in futures trading today as speculators trimmed their positions, driven by easing demand in the spot market against adequate stocks position.
At the Multi Commodity Exchange, crude palm oil for delivery in May declined by Rs 1.60, or 0.33 per cent, to Rs 489.40 per 10 kg, in a business turnover of 21 lots.
Similarly, the oil for delivery in April shed a Re, or 0.19 per cent, to Rs 512.70 per 10 kg in 25 lots.
Analysts said offloading of positions by traders owing to slackened demand in the spot market against sufficient stocks position mainly attributed the fall in crude palm oil prices at futures trade.