Crude palm oil down by 0.5% on muted demand

Higher supplies from producing regions also affected prices

Amid subdued demand at domestic spot market coupled with higher supplies from producing regions, crude palm oil prices traded lower by 0.49% to Rs 406.60 per 10 kg in futures trade today.

At the Multi Commodity Exchange, crude palm oil for delivery in far-month January 2016 declined by Rs 2, or 0.49%, to Rs 406.60 per 10 kg, in a business turnover of 63 lots.

Likewise, the oil for delivery in December edged lower by Rs 1.90, or 0.48%, to Rs 394.20 per 10 kg in 38 lots.

Analysts said besides sluggish demand in the spot market, adequate stocks position on higher supplies from producing belts mainly led to decline in crude palm oil prices at futures trade.