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Crude palm oil prices fell by Rs 2.90 to Rs 496.80 per 10 kg in futures trade today after speculators booked profits amid subdued spot demand.
Besides, a weak trend overseas also put pressure.
At the Multi Commodity Exchange, crude palm oil prices for delivery in August fell by Rs 2.90, or 0.58%, to Rs 496.80 per 10 kg, in turnover of 303 lots.
Similarly, the oil prices for delivery in the July lost Rs 2.30, or 0.45%, to Rs 499 per 10 kg, with a business turnover of 114 lots.
Market analysts said besides profit-booking by speculators at existing levels, weak trend overseas and sluggish spot demand mainly led to a fall in crude palm oil futures prices.
Meanwhile, in Malaysia, palm oil slumped to the lowest level in more than two months as exports dropped amid speculation that a slowdown in China's economy may damp demand from the world's second-largest consumer after India.
Meanwhile palm oil in Malaysia, slumped to the lowest in more than two months as exports dropped.
Palm oil for delivery in September declined by 1.80% to 2,260 ringgit ($710) a tonne on the Malaysia Derivatives Exchange, the lowest level for the most-active futures since May 7.
