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Crude palm oil prices fell by 0.80% to Rs 498.50 per 10 kg in futures trading today as speculators booked profits at prevailing higher levels, driven sluggish demand in the spot market.
At the Multi Commodity Exchange, crude palm oil prices for delivery in July fell by Rs 4, or 0.80%, to Rs 498.50 per 10 kg in business turnover of 53 lots.
Likewise, the oil for delivery in August contract traded lower by Rs 3.40, or 0.68%, to Rs 497 per 10 kg in 200 lots.
Market analysts said besides profit-booking by speculators at prevailing higher levels, sluggish demand in the spot market, influenced crude palm oil prices at futures trade.
