Crude palm oil futures slide 0.52 pc on sluggish demand

Crude palm oil prices declined by 0.52 per cent to Rs 558.20 per 10 kg in futures market today as speculators reduced their exposure, taking negative cues from the spot market on subdued demand.
At the Multi Commodity Exchange, crude palm oil for delivery in December month fell by Rs 2.90, or 0.52 per cent to Rs 558.20 per 10 kg in business turnover of 23 lots.
Likewise, the oil for delivery in January 2018 was trading lower by Rs 1.60, or 0.28 per cent to Rs 560 per 10 kg in 28 lots.
Analysts said cutting down of positions by participants owing to slackened demand in the physical market against adequate stocks position on higher supplies from producing belts mainly led to decline in crude palm oil prices at futures trade.