Crude palm oil futures decline on profit-booking

Crude palm oil prices continued to loose and shed Rs 0.70 to Rs 420.40 per 10 kg in futures trade today, as traders engaged in booking profits amid subdued demand in the spot market.

At the Multi Commodity Exchange counter, crude palm oil for September-month delivery declined by Rs 0.70, or 0.17 per cent, to Rs 420.40 per 10 kg, in single lot.

Similarly, the oil for delivery in October-month shed Rs 0.40, or 0.10 per cent, to Rs 420.20 per 10 kg, with an open interest of one lot.

Traders said besides profit-booking by speculators, fall in demand against adequate stocks in physical markets, also weighed on the crude palm oil prices at futures market.