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Crude palm oil prices fell further by Rs 5.80 to Rs 511.20 in futures trade today as traders booked profits on the back of weak demand and higher supply in the spot market.
Also, a weakening trend overseas put pressure on the oil prices. At the Multi Commodity Exchange, crude palm oil for delivery in June shed Rs 5.80 or 1.12 per cent, to Rs 511.20 per 10 kg, with a business turnover of 44 lots.
The oil for delivery in May eased by Rs 5.40 or 1.04 per cent to Rs 513 per 10 kg, with a business volume of 134 lots.
Likewise, crude palm oil for delivery in April moved down by Rs 5 or 0.95 per cent to Rs 516.20 per 10 kg, with a trading volume of 149 lots.
Traders said besides profit-booking by speculators, fall in demand against adequate stocks in the physical markets mainly led to the fall in crude palm oil futures prices.
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