Crude palm oil futures decline 0.73 pc on low demand

Crude palm oil prices went down by 0.73 per cent to Rs 478.50 per 10 kg in futures market today as traders trimmed positions, taking negative cues from spot market on fall in demand.
At the Multi Commodity Exchange, crude palm oil for delivery in July fell by Rs 3.50, or 0.73 per cent, to Rs 478.50 per 10 kg in a business turnover of 133 lots.
Likewise, the oil for delivery in August shed Rs 3, or 0.63 per cent, to Rs 474.20 per 10 kg in 174 lots.
Analysts said besides easing demand in the spot market, ample stocks on increased supplies from producing regions kept pressure on crude palm oil prices at futures trade.