New Delhi: Crude palm oil prices fell 0.39 per cent to Rs 558.50 per 10 kg in futures trade today as speculators booked profits at prevailing higher levels amid fall in demand in spot market.
Also, sufficient stocks position following higher supplies from the producing belts too fuelled the downtrend.
At the Multi Commodity Exchange, crude palm oil for delivery in December eased by Rs 2.20, or 0.39 per cent, to Rs 558.50 per 10 kg in a business turnover of 61 lots.
On similar lines, the oil for delivery in January traded lower by Rs 1.60, or 0.28 per cent, to Rs 558.10 per 10 kg in 11 lots.
Analysts said besides profit-booking by speculators at prevailing higher levels, fall in demand in the spot market mainly weighed on crude palm oil prices.