Crude palm oil prices fell 0.33% to Rs 548.50 per 10 kg in futures trading today as speculators booking profits at prevailing higher levels, driven by sluggish demand in the spot market.
Besides, availability of adequate stocks in the physical market also put pressure on crude palm oil prices.
At the Multi Commodity Exchange, crude palm oil for delivery in February declined Rs 1.80, or 0.33%, to Rs 548.50 per 10 kg in business turnover of 16 lots.
Likewise, the oil for delivery in March shed Rs 1.70, or 0.31%, to Rs 551 per 10 kg in 63 lots.
Market analysts said profit-booking by speculators at prevailing higher levels amid sluggish demand in the spot market mainly led to decline in crude palm oil prices at futures trade.
