NEW DELHI: Tracking a weak global trend, crude palm oil prices fell by 6.90 to Rs 573.20 per 10 kg in futures trade today as speculators offloaded their positions.
Also, sluggish demand in the spot market further fuelled the downtrend in crude palm oil futures.
At the Multi Commodity Exchange, crude palm oil for delivery in July fell by Rs 6.90, or 1.19 per cent, to Rs 573.20 per 10 kg in business turnover of 268 lots.
Similarly, the oil for delivery in the August contract declined by Rs 6.90, or 1.18 per cent, to Rs 576.90 per 10 kg in 2,239 lots.
Market analysts said apart from weak global trend, position offloaded by speculators mainly led to fall in crude palm oil prices at futures trade.
Meanwhile, palm oil for the October delivery lost 2 per cent to USD 940 a tonne on the Malaysia Derivatives Exchange, the lowest since June 28.