Crude palm oil prices moved down by 0.48% to Rs 540 per 10 kg in futures market today as speculators reduced holdings amid sluggish demand in the spot market against adequate stocks position.
At the Multi Commodity Exchange, crude palm oil for delivery in February moved down by Rs 2.60, or 0.48% to Rs 540 per 10 kg in business turnover of 40 lots.
Similarly, the oil for delivery in January traded lower by Rs 2.40, or 0.45% to Rs 533.80 per 10 kg in 67 lots.
Analysts said the fall in crude palm oil at futures trade was offloading of positions by speculators due to sluggish demand in the spot market against adequate stocks position.
