Crude palm oil down 0.1% on profit-booking

Profit-booking by speculators, sluggish demand in the spot market kept pressure on crude palm oil prices

Crude palm oil prices declined by 0.15% to Rs 526 per 10 kg in futures market today on profit-booking by speculators, driven by sluggish demand in the spot market against adequate stocks position.

At the Multi Commodity Exchange, crude palm oil for delivery in October declined by 0.80 paise, or 0.15%, to Rs 526 per 10 kg in business turnover of 13 lots.

Similarly, the oil for delivery in November shed 60 paise, or 0.11%, to Rs 525.60 per 10 kg in 15 lots.

Traders said besides profit-booking by speculators, sluggish demand in the spot market against adequate stocks position mainly kept pressure on crude palm oil prices at futures trade.