 "Crude palm oil declines 0.83% on profit-booking")
Crude palm oil eased by 0.83% to Rs 455 per 10 kg in futures market today as traders booked profits at prevailing higher levels amidst subdued demand in the spot market.
Further, adequate stocks position in the physical market also put pressure on crude palm oil prices.
At the Multi Commodity Exchange, crude palm oil for delivery in September contracts moved down by Rs 3.80, or 0.83% to Rs 455 per 10 kg in business turnover of 162 lots.
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Similarly, the oil for delivery in October traded lower by Rs 2.90, or 0.64% to Rs 449.30 per 10 kg in 208 lots.
Market analysts said besides profit-booking by speculators at prevailing higher levels, sluggish demand in the spot market mainly weighed on crude palm oil prices at futures trade.