Crude palm oil prices declined by 1.85 per cent to Rs 492.20 per 10 kg in futures trading today as traders trimmed their positions, tracking a weak trend at spot market on sluggish demand.
At the Multi Commodity Exchange, crude palm oil for delivery in July month fell by Rs 9.30, or 1.85 per cent to Rs 492.20 per 10 kg in business turnover of 935 lots.
On similar lines, the oil for delivery in far-month August contracts traded lower by Rs 8.90, or 1.79 per cent to Rs 488.10 per 10 kg in 200 lots.
Market analysts said offloading of positions by traders participants on the back of tepid demand in the spot market against ample stocks position on higher supplies from producing belts led to decline in crude palm oil prices at futures trade.
