Palm oil down 0.1% on profit-booking

Analysts said besides profit-booking by speculators at existing levels, sluggish demand in the spot market influenced the oil prices

Crude palm oil prices fell 0.17% to Rs 575 per 10 kg in futures market today as speculators booked profits at prevailing levels amid sluggish demand in the spot market.

At the Multi Commodity Exchange, crude palm oil for delivery in March declined by Rs 1, or 0.17% to Rs 575 per kg in business turnover of 58 lots.

However, the oil for delivery in April held steady at Rs 576.30 per 10 kg in 78 lots.

Analysts said besides profit-booking by speculators at existing levels, sluggish demand in the spot market mainly influenced crude palm oil futures prices.