Crude palm oil down by 1.13 pct in futures trade

Crude palm oil futures prices fell by Rs 5.70 to Rs 497.20 per 10 kg on Thursday amid sluggish spot market demand.

On the Multi Commodity Exchange, crude palm oil for delivery in August fell by Rs 5.70, or 1.13 per cent, to Rs 497.20 per 10 kg, with a business turnover of 64 lots.

Similarly, the oil for delivery in June declined by Rs 4.80, or 0.96 per cent, to Rs 497.20 per 10 kg, with an open interest of 199 lots.

Traders said besides sluggish spot market demand, adequate supply led to the fall in crude palm oil futures prices.