Crude palm oil futures prices fell by Rs 4.20 to Rs 522.60 today on profit taking by traders due to weak demand and higher supply in the spot market.
Weak trends in overseas markets also put pressure on the oil prices.
At the Multi Commodity Exchange, crude palm oil for July contract fell by Rs 4.20, or 0.79%, to Rs 522.60 per 10 kg, with a business turnover of 13 lots.
The oil for June delivery eased by Rs 3.80, or 0.72%, to Rs 522.20 per 10 kg, with a business volume of 19 lots, while August contract moved down by Rs 3.70, or 0.70%, to Rs 522.80 per 10 kg, with a trade volume of two lots.
Traders said besides profit-booking by speculators, fall in demand against adequate stocks in the physical market mainly led to a fall in crude palm oil prices at the futures market.
