Crude palm oil prices declined by Rs 7.10 at Rs 502.10 per 10 kg in futures trade today on emergence of profit-booking by speculators, driven by sluggish demand in the physical market.
Crude palm oil for delivery in June fell by Rs 7.10, or 1.39%, to Rs 502.10 per 10 kg, with a business turnover of 21 lots. The oil for delivery in May eased by Rs 6, or 1.17%, to Rs 505.80 per 10 kg, with a business volume of 47 lots.
Likewise, the oil prices for delivery in April shed Rs 5.70, or 1.10%, to Rs 510 per 10 kg, with an open interest of 29 lots.
Analysts said besides profit-taking by speculators, fall in demand against adequate stocks in physical markets too put pressure on the crude palm oil at futures market.
