Crude palm oil prices moved down by 0.47 per cent to Rs 511.60 per 10 kg in futures market today as traders reduced their positions, driven by easing demand in the spot market against adequate stocks.
At the Multi Commodity Exchange, crude palm oil for delivery in June declined by Rs 2.40 or 0.47 per cent to Rs 511.60 per 10 kg in a business turnover of 79 lots.
On similar lines, the oil for delivery in July traded lower by a similar margin to Rs 510 per 10 kg in 109 lots.
Analysts said offloading of positions by participants following sluggish demand in the spot market against ample stocks on higher supplies from producing regions, mainly led to the fall in crude palm oil prices at futures trade.
