Crude palm oil prices dipped by 1.25 per cent to Rs 489.70 per 10 kg in futures trading today as speculators cut down their bets amid fall in demand in the spot market against adequate stocks position.
At the Multi Commodity Exchange, crude palm oil for delivery in June fell by Rs 6.20, or 1.25 per cent to Rs 489.70 per 10 kg in business turnover of 596 lots.
Similarly, the oil for delivery in April contracts was trading lower by Rs 3, or 0.58 per cent to Rs 517 per 10 kg in 111 lots.
Analysts said offloading of positions by traders due to decline in demand in the spot market against ample stocks position mainly attributed the fall in crude palm oil prices at futures trade.
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