Crude palm oil futures slip 0.24% on muted demand

NEW DELHI: Crude palm oil prices declined 0.24 per cent to Rs 460.90 per 10 kg in futures trade today as participants trimmed positions owing to slack demand in the spot market.

Also, adequate stock position in the physical market on higher supplies from producing belts put pressure.

At the Multi Commodity Exchange, crude palm oil for delivery in June fell 1.10, or 0.24 per cent, to Rs 460.90 per 10 kg in business turnover of 264 lots.

Likewise, the oil for delivery in July shed 60 paise, 0.13 per cent, to Rs 462.30 per 10 kg in 32 lots.

Analysts said offloading of positions by speculators following a sluggish demand in the spot market against adequate stock position mainly influenced crude palm oil prices. PTI KPS SUN ARD 06011115 NNNN