Crude palm oil prices fell by Rs 2.90 to Rs 518.20 per 10 kg in futures trade today on emergence of profit-taking, driven by a subdued demand in the physical market.
Trading sentiment remained bearish as palm oil futures in Malaysia traded moderately lower on low demand for the commodity among biofuel producers.
At the Multi Commodity Exchange, crude palm oil for delivery in May fell by Rs 2.90 or 0.55% to Rs 518.20 per 10 kg with a business turnover of 437 lots.
April palm oil eased by Rs 2.10 or 0.4% to Rs 522 per 10 kg in a business volume of 124 lots, while the June contract shed Rs 1.30 or 0.25% to Rs 518.50 per 10 kg with a business turnover of 161 lots.
Traders said beside profit-taking by speculators, fall in demand against adequate stocks in physical market mainly led to the fall in crude palm oil prices at the futures market.
