Crude palm oil prices fell by Rs 1.70 to Rs 486.80 per 10 kg in futures trade today as speculators reduced their positions largely in tandem with subdued demand in the spot markets.
At the Multi Commodity Exchange, crude palm oil for August delivery shed Rs 1.70, or 0.35%, to Rs 486.80 per 10 kg, with a business turnover of 34 lots.
Similarly, the oil for September delivery traded lower by Rs 1.60, or 0.33%, to Rs 488.60 per 10 kg, with an open interest of 30 lots.
Market analysts said off-loading of positions by speculators, triggered by weak spot market demand, kept pressure on the crude palm oil prices at futures trade.