19/09/2011 (MSN) -  Crude palm oil futures prices declined by Rs 2.60 to Rs 500.20 per 10 kg today, due to profit-booking by speculators, driven by a fall in spot demand.

At the Multi commodity Exchange, crude palm oil for delivery in September declined by Rs 2.60, or 0.52 per cent, to Rs 500.20 per 10 kg, with a business turnover of 92 lots.

Similarly, the oil for delivery in October contract shed Rs 2.40, or 0.48 per cent to Rs 499.50 per 10 kg, with a trade volume of 163 lots.

Traders said besides profit-taking by speculators, fall in demand against adequate stocks in physical markets led to decline in crude palm oil futures prices.