Crude palm oil prices declined by Re 1 to Rs 466.40 per 10 kg in the futures trade today on continued profit-booking by speculators, influenced by subdued demand in the spot market and a weak global trend.
At the Multi Commodity Exchange, crude palm oil for delivery in November declined by Re 1, or 0.21%, to Rs 466.40 per 10 kg in nine lots.
Similarly, the oil for October contract delivery was down by 50 paise, or 0.11%, at Rs 469 per 10 kg, with an open interest for 19 lots.
Traders said continued profit-booking by speculators amid sluggish demand mainly led to the decline in crude palm oil prices in the futures market.
They said a weakening trend in overseas markets further fuelled the downtrend.
Meanwhile, for December delivery it declined by 0.6% to $881 dollar per metric tonne on the Malaysia Derivatives Exchange.
