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NEW DELHI, May 30: Crude palm oil prices softened by 0.23 per cent to Rs 658.10 per 10 kgs in futures market today as speculators reduced exposure, taking negative cues from spot market on subdued demand.
Besides, sufficient stocks following increased supplies from the producing regions, weighed on prices.
At the Multi Commodity Exchange, crude palm oil for delivery in June fell by Rs 1.50, or 0.23 per cent, to Rs 658.10 per 10 kg in a business turnover of 101 lots.
Similarly, the oil for delivery in May contracts shed Rs 1.30, or 0.20 per cent, to Rs 653.20 per 10 kg in 77 lots.
Analysts said offloading of positions by participants owing to slackened demand in the physical market against adequate stocks position on increased supplies from growing regions led to decline in crude palm oil prices in futures trade. (PTI)
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