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Crude palm oil prices declined by 0.58% to Rs 445.90 per 10 kg in futures market today as speculators trimmed positions, tracking a weak trend at spot market on subdued demand.
Besides, adequate stocks position on increased arrivals from producing regions also put pressure on crude palm oil prices.
At the Multi Commodity Exchange, crude palm oil for delivery in September fell by Rs 2.60, or 0.58% to Rs 445.90 per 10 kg in business turnover of 220 lots.
Similarly, the oil for delivery in August weakened by 20 paise, or 0.04% to Rs 484.20 per 10 kg in 24 lots.
Analysts said offloading of positions by speculators on sluggish demand in the spot market mainly led to the fall in oil prices at futures trade.
