Crude palm oil prices fell by Rs 12.90 to Rs 491.60 per 10 kg in futures trade today as speculators indulged in reducing their positions on the back of a weak global trend.
At the Multi Commodity Exchange, crude palm oil delivery in January contract fell by Rs 12.90, or 2.56 per cent, to Rs 491.60 per 10 kg in a single lot.
Likewise, oil for delivery in November contract declined by Rs 9.90, or 1.99 per cent, to Rs 488.50 per 10 kg with a business turnover of 2 lots.
Traders said besides a weak global trend, fall in demand in the spot market mainly led to a fall in crude palm oil futures prices.
Meanwhile, palm oil futures for January-delivery fell 3.5 per cent on the Malaysia Derivatives Exchange.