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Crude palm oil prices declined 0.34% to Rs 582 per 10 kg in futures trade today as speculators offloaded positions, driven by sluggish demand in the spot market against adequate supplies.
At the Multi Commodity Exchange, crude palm oil for delivery in March declined by Rs 2, or 0.34%, to Rs 582 per 10 kg in a business turnover of 22 lots.
Similarly, the oil for delivery in April weakened by Rs 1.90, or 0.33%, to Rs 582.30 per 10 kg in 90 lots.
Market analysts said offloading of positions by speculators amid sluggish demand in the spot market against adequate supplies, mainly influenced crude palm oil prices at futures trade.
