Crude palm oil prices moved down by Rs 7.50 to Rs 583.40 per 10 kg in futures trade today as speculators reduced their holdings, tracking weakening global trend.
At the Multi Commodity Exchange, crude palm oil for April fell by Rs 7.50, or 1.27 per cent, to Rs 583.40 per 10 kg, with a business turnover of 12 lots.
Similarly, the oil for Delivery in February contract moved down by Rs 6.80, or 1.17 per cent, to Rs 573.00 per 10 kg with a business volume of a single lot.
Traders attributed the fall in crude palm oil futures to weakening trend overseas.
Meanwhile, palm oil futures for the April delivery contract lost 3.1 per cent to $1,250 a metric tonne on the Malaysia Derivatives Exchange, the most since December 17.