Crude palm oil prices went down by 0.52 per cent to Rs 602.70 per 10 kg in futures market Wednesday as speculators cut down positions in line with weak Malaysian palm oil prices and on muted spot demand.
Besides, higher inventories dragged crude palm oil prices in futures trade.
At the Multi Commodity Exchange, crude palm oil for delivery in September was trading down by Rs 3.20, or 0.52 per cent lower, to Rs 602.70 per 10 kg in a business turnover of 163 lots.
Likewise, oil for delivery in October shed Rs 3, or 0.49 per cent, to Rs 606.60 per 10 kg in 222 lots.
Analysts said offloading of positions by participants owing to slackened demand in the physical market against adequate stocks position kept crude palm oil prices lower in futures trade.
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