Crude palm oil weakens 0.2% on profit-booking

Subdued demand, adequate stocks influence prices

Crude palm oil prices fell by Rs 1.10 to Rs 534.70 per 10 kg on emergence of profit-booking by speculators amid subdued spot demand.

At the Multi Commodity Exchange, crude palm oil for delivery in September declined by Rs 1.10, or 0.21%, to Rs 534.70 per 10 kg, with a business turnover of 289 lots.

The October contract traded lower by Rs 1.10, or 0.20%, to Rs 538.30 per 10 kg, with a business turnover of 433 lots.

Traders said besides profit-booking by speculators, subdued demand in the spot market against adequate stocks position led to the fall in crude palm oil prices at futures market.