Crude palm oil futures down 1.19% on profit booking

Crude palm oil prices moved down by 1.19 per cent to Rs 416.50 per 10 kg in futures trading today as speculators booked profits at prevailing higher levels amid easing demand in the spot market against adequate stocks.
At the Multi Commodity Exchange, crude palm oil for delivery in February fell by Rs 5, or 1.19 per cent, to Rs 416.50 per 10 kg, in a business turnover of 220 lots.
On similar lines, the oil for delivery in January traded lower by Rs 3.70, or 0.90 per cent, to Rs 407.70 per 10 kg in 323 lots.
Market analysts said besides profit booking by traders at existing levels, fall in demand in the spot market against adequate stocks position on higher supplies from producing regions mainly led to the fall in crude palm oil prices at futures trade.