Crude palm oil prices softened by 0.19 per cent to Rs 586.60 per 10 kg in futures trade today as participants reduced their exposure amid subdued demand in the spot market against ample stocks.
At the Multi Commodity Exchange, crude palm oil for delivery in February month declined by Rs 1.10, or 0.19 per cent to Rs 586.60 per 10 kg in business turnover of 17 lots.
On similar lines, the oil for delivery in January month contracts shed 80 paise, or 0.13 per cent to Rs 594 per 10 kg in 114 lots.
Market analysts said trimming of positions by traders due to sluggish demand in the spot market against adequate stocks position on increased supplies mainly led the crude palm oil prices to trade lower at futures trade.
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