Crude palm oil declines on profit-booking

Crude palm oil prices fell by Rs 5.20 to Rs 410 per 10 kg in futures trade today on emergence of profit-booking, driven by subdued demand in the spot market. 

At the Multi Commodity Exchange Crude palm oil for December month contract fell by Rs 5.20, or 1.25 per cent, to Rs 410 per 10 kg with a business turnover of one lot.

The oil for September month contract eased by Rs 2, or 0.47 per cent, to Rs 417.40 per 10 kg in 152 lots, while October month contract moved down by Rs 1.30, or 0.31 per cent, to Rs 417.40 per 10 kg in 86 lots.

Traders said profit-taking by speculators amid fall in demand in spot markets mainly led to decline crude palm oil prices at futures market.