Crude palm oil prices fell 0.70 per cent to Rs 495.70 per 10 kg in futures trade today as speculators booked profits at prevailing higher levels amid fall in demand at the spot market.
Sufficient stocks position following increased supplies from the producing belts too fuelled the downtrend.
At the Multi Commodity Exchange, crude palm oil for delivery in current month eased by Rs 3.50, or 0.70 per cent, to Rs 495.70 per 10 kg, in a business turnover of 201 lots.
On similar lines, the oil for delivery in July contract traded lower by Rs 2.30, or 0.47 per cent, to Rs 487 per 10 kg in 64 lots.
Analysts said besides profit-booking by speculators at prevailing higher levels, fall in demand at the spot market, mainly weighed on crude palm oil prices.
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