Crude palm oil prices fell by Rs 6.70 to Rs 516.80 per 10 kg in futures trade today on emergence of profit-selling at existing higher levels amid fall in demand in the spot market.
A weakening trend in the overseas markets also put pressure on the prices.
At the Multi Commodity Exchange, crude palm oil for March delivery fell by Rs 6.70, or 1.27%, to Rs 516.80 per 10 kg, with a trade volume of 96 lots.
The February contract moved down Rs 6.50, or 1.25%, to Rs 512.20 per 10 kg, with a trade volume of 213 lots, while April palm oil lost Rs 5.30, or 1.01%, to Rs 518.40 per 10 kg, with a trade volume of four lots.
Traders said emergence of profit-selling by speculators, driven by reduced offtake in the spot market led to a fall in crude palm oil prices at futures market here.
They said investors were worried over the prospects of weak demand for the edible oil amid uncertainty surrounding the euro zone debt crisis.
