Crude palm oil futures fall 0.24 pc on profit-booking

Crude palm oil prices fell 0.24 per cent to Rs 534 per 10 kg in futures trade today as speculators booked profits at prevailing higher levels amid fall in demand in spot market.
Also, sufficient stocks position following higher supplies from the producing belts too fuelled the downtrend.
At the Multi Commodity Exchange, crude palm oil for delivery in March eased by Rs 1.30, or 0.24 per cent, to Rs 534 per 10 kg in a business turnover of 208 lots.
On similar lines, the oil for April delivery traded lower by 0.70 paise, or 0.13 per cent, to Rs 519.20 per 10 kg in 157 lots.

Analysts said, besides profit-booking by speculators at prevailing higher levels, fall in demand in the spot market following higher supply from the producing belts, mainly influenced crude palm oil prices.