Crude palm oil prices fell by Rs 3.10 to Rs 528.10 per 10 kg in futures trade today as participants engaged in reducing their positions, taking negative cues from spot market on sluggish demand.
Moreover, sufficient stocks following higher supplies from the producing belts too fuelled the downtrend.
At the Multi Commodity Exchange, crude palm oil for delivery this month moved down by Rs 3.10, or 0.58 per cent, to Rs 528.10 per 10 kg, in a business turnover of 340 lots.
Likewise, the oil for delivery far-month April weakened by Rs 2.50, or 0.47 per cent, to Rs 518.90 per 10 kg in 153 lots.
Market analysts said offloading of positions by traders due to muted demand in the spot market against adequate stocks position on increased supplies mainly kept crude palm oil prices lower at futures trade.
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