Crude palm oil futures fall 0.42 pc on profit-booking

Crude palm oil prices fell 0.42 per cent to Rs 496.80 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 current month eased by Rs 2.10, or 0.42 per cent, to Rs 496.80 per 10 kg in a business turnover of 570 lots.
On similar lines, the oil for delivery in July traded lower by 0.80 paise, or 0.16 per cent, to Rs 486 per 10 kg with trading volume of 159 lots.

Analysts said besides profit-booking by speculators at prevailing higher levels, fall in demand in the spot market and higher supplies from the producing belts mainly put pressure on crude palm oil prices.