Crude palm oil prices declined by 0.41 per cent to Rs 649.40 per 10 kgs in futures market today as speculators reduced exposure, taking negative cues from the spot market on subdued demand.
Besides, sufficient stocks position following higher supplies from the producing belts too fuelled the downtrend.
At the Multi Commodity Exchange, crude palm oil for delivery in April fell by Rs 2.70, or 0.41 per cent, to Rs 649.40 per 10 kgs in a business turnover of 125 lots.
Likewise, the oil for delivery in May contracts was trading lower by Rs 1.60, or 0.24 per cent, to Rs 639.40 per 10 kgs in 97 lots.
Analysts said cutting down of positions by participants on muted demand in the physical market against adequate stocks position on higher supplies from producing belts led to the decline in crude palm oil futures.
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