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Crude palm oil futures down 0.38% on profit-booking

Press Trust of India  |  New Delhi 

Crude palm oil prices fell 0.38 per cent to Rs 495 per 10 kg in futures trade today as speculators booked profits at prevailing higher levels amid fall in demand in spot market.

Also, sufficient stocks position following higher supplies from the producing belts too fuelled the downtrend.

At the Multi Commodity Exchange, crude palm oil for delivery in November eased by Rs 1.90, or 0.38 per cent, to Rs 495 per 10 kg in a business turnover of 42 lots.

On similar lines, the oil for delivery in October traded lower by Re 1, or 0.19 per cent, to Rs 514.70 per 10 kg in 87 lots.

Analysts said besides profit-booking by speculators at prevailing higher levels, fall in demand in the spot market following higher supply from the producing belts mainly influenced crude palm oil prices.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Thu, October 13 2016. 11:57 IST