Crude palm oil prices declined by Rs 2.90 to Rs 509.30 per 10 kg in futures trade today as speculators reduced their positions on the back of a weakening global trend.
At the Multi Commodity Exchange, crude palm oil for May delivery declined by Rs 2.90, or 0.57% to Rs 509.30 per 10 kg, with a trade volume of a single lot.
Similarly, the oil for delivery in June lost Rs 2.40, or 0.47% to Rs 507 per 10 kg, with a business turnover of two lots.
Traders said besides weakening trend in overseas markets, subdued demand in the spot market led to the fall in crude palm oil futures prices.
Meanwhile, crude palm oil for the July-delivery contract declined by 1.8% to $1,057 a metric tonne on the Malaysia Derivatives Exchange, the lowest since March 24.