Muted demand drags down crude palm oil futures 0.25 pc

Crude palm oil prices fell by 0.25 per cent to Rs 479.50 per 10 kg in futures trading today as speculators cut down positions, driven by easing demand in the spot market.
Besides, ample stocks on increased supplies from producing belts weighed on prices.
At the Multi Commodity Exchange, crude palm oil for delivery in August declined by Rs 1.20, or 0.25 per cent, to Rs 479.50 per 10 kg in a business turnover of 52 lots.
Likewise, the oil for delivery in July shed 70 paise, or 0.14 per cent, to Rs 484.40 per 10 kg in 24 lots.

Analysts said offloading of positions by traders owing to slackened demand in the spot market against sufficient stocks position on increased supplies from producing regions mainly led to the decline in crude palm oil prices at futures trade.