Crude palm oil prices fell further by 0.39 per cent to Rs 638.50 per 10 kg in futures trade today as speculators cut bets, taking negative cues from the spot market on easing demand.
Moreover, adequate stocks position on higher supplies from producing regions weighed on the prices.
At the Multi Commodity Exchange, crude palm oil for delivery in the current month declined Rs 2.50, or 0.39 per cent, to Rs 638.50 per 10 kgs in a business turnover of 232 lots.
On similar lines, the oil for delivery in May was trading down by Rs 2, or 0.30 per cent lower at Rs 644 per 10 kgs in 68 lots.
Analysts said, offloading of positions by traders owing to slackened demand against sufficient stocks position, kept crude palm oil prices down.
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