Crude palm oil futures slide on higher supply

Crude palm oil prices dipped 0.41 per cent to Rs 441.10 per 10 kg in futures trade today amid higher supplies from producing belts at spot market.

At Multi Commodity Exchange, crude palm oil for delivery in August traded lower by Rs 1.80, or 0.41 per cent to Rs 441.10 per 10 kg in a business turnover of 70 lots.

The oil for delivery in July contracts also shed Rs 1.50, or 0.34 per cent at Rs 441.00 per 10 kg in 82 lots.

Market analysts said offloading of positions by speculators, triggered by higher supplies from producing regions in the physical market against low demand influenced crude palm oil prices in futures trade.