Crude palm oil prices fell 0.30 per cent to Rs 587 per 10 kg in futures trade today as speculators booked profits at prevailing higher levels amid fall in demand in spot market.
Also, sufficient stocks position following higher supplies from the producing belts too fuelled the downtrend.
At the Multi Commodity Exchange, crude palm oil for delivery this month eased by Rs 1.80, or 0.30 per cent, to Rs 587 per 10 kg in a business turnover of 125 lots.
On similar lines, the oil for delivery in far-month February traded lower by Rs 1.40, or 0.24 per cent, to Rs 580 per 10 kg in 72 lots.
Analysts said besides profit-booking by speculators at prevailing higher levels, fall in demand in the spot market following higher supply from the producing belts mainly influenced crude palm oil prices.
Disclaimer: No Business Standard Journalist was involved in creation of this content
