New Delhi, Feb 20 (PTI) Crude palm oil prices fell 0.44 per cent to Rs 578.30 per 10 kgs in futures trade today as speculators booked profits at prevailing price level amid fall in demand at the spot market. Also Read - Gold Prices Down on Sixth Consecutive Day by 0.05% to Rs 37,551 Per 10 Gram on MCX
Besides, sufficient stocks position following increased supplies from the producing regions, fuelled the downtrend. Also Read - Crude oil prices up 1.4% on upbeat global cues
At the Multi Commodity Exchange, crude palm oil for delivery in the current month eased by Rs 2.60, or 0.44 per cent, to Rs 578.30 per 10 kgs in a business turnover of 159 lots. Also Read - Zinc futures marginally up on firm spot cues
On similar lines, the oil for delivery in March contract traded lower by Rs 2.30, or 0.39 per cent, to Rs 585.60 per 10 kgs in 204 lots.
Analysts said, besides profit-booking by speculators at prevailing higher levels, fall in demand at the spot market weighed on crude palm oil prices.
This is published unedited from the PTI feed.