Crude palm oil futures down on profit-taking

Crude palm oil prices declined by Rs 2 to Rs 515.50 per 10 kg in futures trade today on emergence of profit-taking, driven by subdued spot market demand.

At the Multi Commodity Exchange, crude palm oil for May month contract fell by Rs 2, or 0.19% to Rs 515.50 per 10 kg, with a business turnover of 13 lots.    

The oil for delivery in June eased by Re one, or 0.19% to Rs 513.10 per 10 kg, with a trade volume of three lots. 

Likewise, crude palm oil for delivery in July moved down by 80 paise, or 0.16% to Rs 511.50 per 10 kg, with an open interest of eight lots.    

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