Crude palm oil prices declined by Rs 3.50, or 0.88 per cent, to Rs 394 per 10 kg in futures trade today as speculators booked profits at existing higher levels, driven by a weak trend at the spot market.
At the Multi Commodity Exchange, crude palm oil for August month declined by Rs 3.50, or 0.88 per cent, to Rs 394 per 10 kg with an open interest of 1,630 lots.
Similarly, the oil for delivery in September month traded lower by Rs 2.30, or 0.58 per cent, to Rs 391.80 per 10 kg in 1,638 lots.
Market analysts said profit-taking by speculators at existing higher level and fall in demand in the spot market mainly pulled down crude palm oil prices in the futures trade.
