Crude palm oil down 0.6% on profit-booking

Oil for delivery in November declined by 0.49%

Crude palm oil prices fell by 0.68% to Rs 572 per 10 kg in futures market today on profit booking by speculators at prevailing higher levels amid sluggish demand in the spot market.

 

At the Multi Commodity Exchange, crude palm oil for delivery in December fell by Rs 3.90, or 0.68%, to Rs 572 per 10 kg in business turnover of 112 lots.

 

Likewise, oil for delivery in November declined by Rs 3.20, or 0.49%, to Rs 571.30 per 10 kg in 51 lots.

 

Analysts said besides profit-taking by speculators at prevailing higher levels, sluggish demand in the spot market mainly led to a fall in crude palm oil prices at futures trade.