Crude palm oil slips 0.2% on sluggish demand

Prices went down as speculators reduced holdings

Crude palm oil prices fell by Rs 1.20 to Rs 496.50 per 10 kg in futures market today as speculators reduced holdings amid sluggish demand in the spot market.

At the Multi Commodity Exchange (MCX), the June contract slipped by Rs 1.20, or 0.24% to Rs 496.50 per 10 kg in 80 lots.

The July contract traded lower by 90 paise, or 0.18% to Rs 498.60 per 10 kg in 92 lots.

Analysts said speculators reduced their holdings due to sluggish demand in the spot market, mainly influenced crude palm oil prices at futures trade.