Crude palm oil prices declined by Rs 4 to Rs 508 per 10 kg in futures trading today as traders reduced their positions on sluggish spot markets demand.
At the Multi Commodity Exchange, crude palm oil for delivery in August declined by Rs 4 or 0.78 per cent to Rs 508 per 10 kg, with a business turnover of 105 lots.
Similarly, the oil for delivery in June shed Rs 3.60 or 0.70 per cent to Rs 509.70 per 10 kg, with a business volume of 80 lots.
Market analysts said traders reduced their positions due to subdued demand in the spot market, which led to the fall in prices.