Crude palm oil falls by 0.4% on low spot demand

Higher supplies from producing regions also affected prices

Crude palm oil prices were down by 0.37% to Rs 461.50 per 10 kg in futures trading today amid subdued demand in the spot market against higher supplies from producing belts.

At the Multi Commodity Exchange, crude palm oil for delivery in February month fell by Rs 1.70, or 0.37% to Rs 461.50 per 10 kg in business turnover of 38 lots.

Also, the oil for delivery in January contracts shed Rs 1.40, or 0.31% to Rs 455.60 per 10 kg in 12 lots.

Market analysts said besides sluggish demand in the spot market, higher supplies from producing region mainly led to the decline in crude palm oil prices at futures trade.