Crude palm oil falls 0.7% on profit-booking

Emergence of profit-booking by speculators amid subdued spot demand against adequate stocks position affected prices

Crude palm oil prices softened by 0.69% to Rs 515.70 per 10 kg in futures market today on the emergence of profit-booking by speculators amid subdued spot demand against adequate stocks position.

 

At the Multi Commodity Exchange, crude palm oil for delivery in October softened by Rs 3.60 or 0.69% to Rs 515.70 per 10 kg in business turnover of 18 lots.

 

Similarly, oil for delivery in September weakened by Rs 3, or 0.57% to Rs 525.20 per 10 kg in 23 lots.

 

Market analysts said besides profit-taking by speculators, subdued demand in the spot market against adequate stocks position mainly influenced crude palm oil prices at futures trade.