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Crude palm oil prices declined by 1.01% to Rs 490.60 per 10 kg in futures trading today after speculators booked profit at prevailing higher levels amid sluggish demand in the spot market.
At the Multi Commodity Exchange, crude palm oil for delivery in September month fell by Rs 5, or 1.01% to Rs 490.60 per 10 kg in business turnover of 428 lots.
Similarly, oil for delivery in August contract traded lower by Rs 5, or 0.99% to Rs 498.70 per 10 kg in 309 lots.
Analysts said besides profit-booking by speculators at prevailing levels, sluggish demand in the spot market against adequate stocks position mainly influenced crude palm oil prices at futures trade.
