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Crude palm oil prices declined by 0.18% to Rs 549.50 per 10 kg in futures market today as speculators offloaded their positions tracking a weak trend at spot market on subdued demand against adequate stocks position.
At the Multi Commodity Exchange, crude palm oil for delivery in December declined by Re 1, or 0.18%, to Rs 549.50 per 10 kg in business turnover of 42 lots.
Similarly, oil for delivery in January traded lower by 90 paise, or 0.16%, to Rs 554 per 10 kg in 45 lots.
Analysts said offloading of positions by speculators due to subdued demand in the spot market against adequate stocks position mainly kept pressure on crude palm oil prices at futures trade.
