13/06/2012 (Economic Times) -  Crude palm oil prices fell by Rs 4.20 to Rs 547.50 per 10 kg in futures trade today as speculators booked profits at prevailing higher levels, driven by a weak trend at spot market on sluggish demand.

Weakening trend in overseas markets also put pressure on the prices.

At the Multi Commodity Exchange, Crude palm oil for delivery in July declined by Rs 4.20, or 0.76 per cent, to Rs 547.50 per 10 kg in business turnover of 361 lots.

Similarly, the oil for delivery in the June contract traded lower by Rs 3.80, or 0.68 per cent, to Rs 547 per 10 kg in 169 lots.

In Malaysia, the August-delivery contract fell as much as 1.30 per cent to 2,951 ringgit (USD 927) a tonne on the Malaysia Derivatives Exchange.

Market analysts said besides, profit-booking by speculators at existing higher levels, subdued demand in the spot market also influenced the crude palm oil prices at futures market.