Crude palm oil softened by Rs 3.50 to Rs 515 per 10 kg in futures trading today as speculators booked profits, driven by weak spot market trend on subdued demand.
At the Multi Commodity Exchange, crude palm oil for delivery in June declined by Rs 3.50 or 0.68 per cent to Rs 515 per 10 kg, with a business turnover of two lots.
Similarly, the oil for delivery in May moved down by Rs 3.20 or 0.61 per cent to Rs 518.20 per 10 kg, with an open interest of a single lot.
Market analysts said besides profit-booking by speculators at prevailing higher levels, subdued demand in the spot market caused the decline in prices.