Crude palm oil prices declined by Rs 5.50, or 1.33 per cent, to Rs 409.30 per 10 kg in futures trade today on emergence of profit taking, driven by subdued demand in physical markets.
Trading sentiment remained bearish as palm oil futures in Malaysia traded moderately lower on slow demand for the commodity among bio fuel producers.
At the Multi Commodity Exchange platform, crude palm oil for October-month contract fell by Rs 5.50, or 1.33 per cent, to Rs 409.30 per 10 kg, with a business turnover of 22 lots.
The oil for August contract eased by Rs 4.50, or 1.07 per cent, to Rs 415 per 10 kg, with an open volume of 131 lots, while September contract moved down by Rs 3.90, or 0.93 per cent, to Rs 415 per 10 kg, with a business volume of 97 lots.
Traders said besides, profit-taking by speculators, fall in demand against adequate stocks in physical market mainly led to a fall in crude palm oil prices at futures market.
