Crude palm oil prices declined by Rs 7.10 to Rs 502.10 per 10 kg at the futures trade today on emergence of profit-booking by speculators, driven by sluggish demand in the physical market.

Crude palm oil for delivery in June fell by Rs 7.10 or 1.39 per cent to Rs 502.10 per 10 kg with a business turnover of 21 lots. May contract eased by Rs 6 or 1.17 per cent to Rs 505.80 per 10 kg with a business volume of 47 lots.

Likewise, the oil for delivery in April shed Rs 5.70 or 1.1 per cent to Rs 510 per 10 kg with an open interest of 29 lots.

Analysts said besides profit-taking by speculators, fall in demand against adequate stocks in the physical markets too put pressure on prices at the futures market.

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