28/07/2011 (Moneycontrol.com) - Crude palm oil prices declined by 70 paise to Rs 485.30 per 10 kgs in futures trade today on emergence of profit-taking, driven by subdued demand in the spot markets.

At the Multi Commodity Exchange, crude palm oil for delivery in July fell by 0.70 paise, or 0.14%, to Rs 485.30 per 10 kgs, with a business turnover of 16 lots.

The oil for delivery in September eased by 0.70 paise, or 0.14%, to Rs 484.80 per 10 kgs, with an open interest of 31 lots.

Similarly, its prices for delivery in August moved down by 0.30 paise, or 0.06%, to Rs 484.70 per 10 kgs, with a trade volume of 101 lots.

Traders said besides profit-taking by speculators, fall in demand against adequate stocks in spot market mainly led to the fall in crude palm oil prices at futures market.