Crude palm oil prices fell by Rs 1.60 to Rs 502.80 per 10 kg in futures trading today as speculators preferred to book profits, driven by a sluggish demand in the spot market.
At the Multi Commodity Exchange, crude palm oil for delivery in May shed Rs 1.60, or 0.32%, to Rs 502.80 per 10 kg, with a business turnover of two lots.
Similarly, the oil for delivery in April declined by 60 paise, or 0.12%, to Rs 506.10 per 10 kg, with a business volume of a single lot.
Traders said apart from profit-taking by speculators, sluggish demand against adequate stocks position in the physical market led to the decline in crude palm oil futures prices.
