Crude palm oil declines by 0.1% on low demand

Crude palm oil prices eased by 0.11% to Rs 446.50 per 10 kg in futures trading today as participants indulged in reducing holdings due to lower demand in the spot market.

At the Multi Commodity Exchange, crude palm oil for delivery in May month weakened by 50 paise, or 0.11% to Rs 446.50 per 10 kg in business turnover of 75 lots.

Similarly, the oil for delivery in June contracts shed 40 paise, or 0.09% to Rs 449 per 10 kg in 72 lots.

Market analysts said offloading of positions by participants amid sluggish demand in the spot market against adequate supplies mainly led to a fall in crude palm oil futures.