Crude palm oil prices fell by 1.76% to Rs 575 per 10 kg in futures trade today as speculators booked profits at prevailing higher levels, driven by subdued demand in the spot market.
Weak trend in overseas market also influenced the trading sentiment.
At the MCX, crude palm oil for delivery in July fell by Rs 10.30, or 1.76%, to Rs 575 per 10 kg, with a business turnover of 422 lots.
The June contract lost Rs 10.40, or 1.64%, to Rs 574.60 per 10 kg in 591 lots.
Market analysts said besides profit-booking by speculators at existing higher levels, sluggish demand in the spot market and weak trend in overseas markets mainly led to a fall in crude palm oil futures.
Meanwhile, palm oil fell 1.1% to 3,066 ringgit a tonne on the Malaysia Derivatives Exchange.
