Crude palm oil futures down on profit-taking

Crude palm oil prices traded marginally lower by Rs 1.10 to Rs 508.80 per 10 kg in futures trade today as speculators indulged in booking-profits at existing high levels, driven by subdued spot market demand. 

At the Multi Commodity Exchange, crude palm oil for delivery in July traded lower by Rs 1.10, or 0.22%, to Rs 508.80 per 10 kg, with an open interest of 110 lots.

The June delivery shed 70 paise, or 0.14%, to Rs 508.60 per 10 kg, with a business volume of 53 lots.

Analysts said profit-taking by speculators driven by subdued demand in the spot market mainly led to the fall in crude palm oil futures prices.