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Crude palm oil softened by 0.17% to Rs 458.50 per 10 kg in futures trade today as speculators trimmed position amid low demand in the spot market against higher supplies from producing belts.
At the Multi Commodity Exchange, crude palm oil for delivery in December month traded lower by 80 paise, or 0.17% to Rs 858.50 per 10 kg in business turnover of 38 lots.
Likewise, the oil for delivery in November shed 70 paise, or 0.16% to Rs 448.90 per 10 kg in 17 lots.
Market analysts said offloading of positions by speculators due to weak demand in the spot markets against higher supplies from producing belts, mainly led to the decline in crude palm oil prices in futures trade.
