ET:Crude palm oil futures decline on sluggish demand
NEW DELHI: Crude palm oil prices declined by Rs 4 to Rs 508 per 10 kg in futures trading today as traders reduced their positions on sluggish spot markets demand.
At the Multi Commodity Exchange , crude palm oil for delivery in August declined by Rs 4, or 0.78 per cent, to Rs 508 per 10 kg, with a business turnover of 105 lots.
Similarly, the oil for delivery in June shed Rs 3.60, or 0.70 per cent, to Rs 509.70 per 10 kg, with a business volume of 80 lots.
Market analysts said traders reduced their positions due to subdued demand in the spot market, which led to the fall in crude palm oil futures prices.
