Crude palm oil prices fell marginally by Rs 1.10 to Rs 426 per 10 kg in futures trade today on profit-booking by speculators, driven by subdued demand in the spot markets.
At the Multi Commodity Exchange, the November contract declined by Rs 1.10, or 0.25% to Rs 426 per 10 kg in a business turnover of 766 lots.
The December contract shed Rs 1.10, or 0.25% to Rs 431.20 per 10 kg in 1,110 lots.
Traders said besides profit-taking by speculators, subdued demand in the domestic markets led to decline in crude palm oil prices at futures market.
They said a weakening trend in global markets further influenced the market sentiment.
The palm oil in Malaysia, dropped after crude oil fell the most yesterday, reducing the appeal of vegetable oils as biofuel feedstock, and on renewed concern that weakening demand will increased stockpiles, they added.
Meanwhile, the oil fell by 0.80% to 777 dollar a metric ton on the Malaysia Derivatives Exchange.