Crude palm oil prices fell by Rs 2.90 to Rs 537.50 per 10 kg in futures trade today as speculators booked-profits at prevailing higher levels amid a weak trend at spot market on sluggish demand.
At the Multi Commodity Exchange, the February contract for crude palm oil declined by Rs 2.90, or 0.54% to Rs 537.50 per 10 kg in business turnover of 29 lots.
In a similar fashion, the oil for delivery in March traded lower by Rs 2.70, or 0.49%, to Rs 550.50 per 10 kg in 573 lots.
Market analysts said besides, profit-booking by speculators at existing higher levels, subdued demand in the spot market also influenced the crude palm oil prices at futures market.
