03/01/2012 (MSN) - Crude palm oil prices fell by Rs 1.50 to Rs 553.40 per 10 kg in futures trading today as speculators indulged in booking profits at existing higher levels, driven by a weak spot market trend on sluggish demand.

At the Multi Commodity Exchange, crude palm oil for delivery in March declined by Rs 1.50, or 0.27 per cent, to Rs 553.40 per 10 kg, with a business turnover of 14 lots.

Likewise, the oil for delivery in January traded lower by 30 paise, or 0.05 per cent, to Rs 548.60 per 10 kg, with trade volume of 257 lots.

Traders said profit-booking by speculators on weak trend in spot markets following sluggish demand mainly led to a fall in crude palm oil prices in futures trade.