Crude palm oil prices turned weak and lost Rs 3 or 0.82 per cent to Rs 364.50 per 10 kg in futures trade today on profit taking by speculators, driven by a weakening trend at spot markets.
At the Multi Commodity Exchange, crude palm oil for August contract fell Rs 3, or 0.82 per cent to Rs 364.50 per 10 kg, with an open interest of 627 lots.
Similarly, the oil for delivery in current-month June contract lost Rs 1.80, or 0.49 per cent to Rs 367.30 per 10 kg, with a business turnover of 1,487 lots.
Market analysts said profit-taking by speculators, driven by weak demand in spot markets led to a fall in crude palm oil prices at futures market.
