Crude palm oil prices fell 0.51 per cent to Rs 646.80 per 10 kg in futures trade today as speculators reduced exposure, taking negative cues from the spot market on sluggish demand.
Besides, sufficient stocks position on higher supplies from the producing belts too fuelled the downtrend.
At the Multi Commodity Exchange, crude palm oil for delivery in April declined by Rs 3.30, or 0.51 per cent, to Rs 646.80 per 10 kg in business turnover of 112 lots.
On similar lines, the oil for delivery in March contracts was trading lower by Rs 3.20, or 0.50 per cent, to Rs 639.30 per 10 kg in 75 lots.
Analysts said offloading of positions by participants due to easing demand in the physical market against adequate stocks position on increased supplies from producing regions led to the decline in crude palm oil futures.
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