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Crude palm oil prices fell further by Rs 6.40 to Rs 512.60 per 10 kg in futures trade today amid profit-booking by traders due to weak demand and higher supply in the spot market.
A weakening trend in the overseas markets also put pressure on crude palm oil prices.
At the Multi Commodity Exchange, crude palm oil for May delivery fell by Rs 6.40 or 1.23 per cent to Rs 512.60 per 10 kg, with a business turnover of 29 lots.
The oil for April contract delivery eased by Rs 6.20 or 1.18 per cent, to Rs 517.10 per 10 kg, with a business volume of eight lots, while June crude palm oil contracts moved down by Rs 6.10 or 1.17 per cent, to Rs 511.40 per 10 kg, with a trading volume of 11 lots.
Traders said besides profit-booking by speculators, a fall in demand against adequate stocks in the physical markets mainly led to the fall in oil prices in futures market.
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