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Crude palm oil prices fell by Rs 2.90 to Rs 518.20 per 10 kg at the futures trade today on emergence of profit-taking, driven by a subdued demand in the physical market.
Trading sentiment remained bearish as palm oil futures in Malaysia traded moderately lower on low demand among bio-fuel producers.
At the Multi Commodity Exchange, crude palm oil for May fell by Rs 2.90 or 0.55 per cent to Rs 518.20 per 10 kg with a business turnover of 437 lots.
Similarly, April contract eased by Rs 2.10 or 0.4 per cent to Rs 522 per 10 kg in a business volume of 124 lots, while June contract moved down by Rs 1.30 or 0.25 per cent to Rs 518.50 per 10 kg with a business turnover of 161 lots.
Traders said besides profit-taking by speculators, fall in demand against adequate stocks in the physical market, mainly led to the fall in crude palm oil prices at the futures market.
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