Crude palm oil futures shed 0.43 pc on low demand

Crude palm oil prices declined by 0.43 per cent to Rs 485.20 per 10 kg in futures trading today as speculators engaged in reducing positions, triggered by easing demand at the spot market.
Besides, ample stocks position on increased supplies from producing belts too fuelled the downtrend.
At the Multi Commodity Exchange, crude palm oil for delivery in current month fell by Rs 2.10, or 0.43 per cent, to Rs 485.20 per 10 kg, in a business turnover of 68 lots.
Likewise, the oil for delivery in August contract traded lower by Rs 1.40, or 0.28 per cent, to Rs 481.50 per 10 kg in 130 lots.

Analysts said trimming of positions by traders amid subdued demand at the spot market against sufficient stocks position mainly attributed the slide in crude palm oil prices in futures trade.