Crude palm oil down 0.9% on profit-selling

Decline in spot market demand, weakening overseas markets pulled down the prices

Crude palm oil futures for February fell by Rs 4.10, or 0.89%, to Rs 453.10 per 10 kg in 273 lots.

At the Multi Commodity Exchange (MCX), the March contract moved down by Rs 3.90, or 1.46%, to Rs 1,283 per 10 kg in 683 lots.

Emergence of profit-selling at existing higher levels after a decline in spot market demand amid weakening overseas markets impacted the trade.

On the Malaysia Derivatives Exchange (MDEX), palm oil dropped 2.8% to $794 a tonne.