Crude palm oil prices declined by 0.40 per cent to Rs 554.70 per 10 kg in futures trading today as traders locked in gains at prevailing levels, driven by easing demand in the spot market.
Besides, adequate stocks position on higher supplies from producing regions put pressure on crude palm oil prices.
At the Multi Commodity Exchange, crude palm oil for delivery in May month fell by Rs 2.20, or 0.40 per cent to Rs 554.70 per 10 kg in business turnover of 115 lots.
Similarly, the oil for delivery in far-month June contracts traded lower by Rs 2.10, or 0.38 per cent to Rs 546.10 per 10 kg in 37 lots.
Analysts said besides profit-booking by participants at existing levels, fall in demand in the spot market against adequate stocks position, led to the decline in crude palm oil prices at futures trade.
