Crude palm oil prices eased by 0.17 per cent to Rs 653.50 per 10 kgs in futures market today as speculators trimmed their positions, tracking a weak trend at spot market on easing demand.
Besides ample stocks position on increased supplies from producing belts too fuelled the downtrend.
At the Multi Commodity Exchange, crude palm oil for delivery in April declined by Rs 1.10, or 0.17 per cent to Rs 653.50 per 10 kg in business turnover of 70 lots.
Likewise, the oil for delivery in March shed 60 paise, or 0.09 per cent to Rs 644.50 per 10 kg in 31 lots.
Analysts said cutting down of positions by traders due to tepid demand in the physical market against sufficient stocks position mainly led to the slide in crude palm oil prices in futures trade.
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