Crude palm oil futures turns weak on profit booking

Crude palm oil futures prices turned fell by Rs 1.50 to Rs 519 per 10 kg today on profit booking by speculators.

At the Multi Commodity Exchange, crude palm oil for June contract declined by Rs 1.50, or 0.29%, to Rs 519 per 10 kg, with a business turnover of nine lots.

The oil for delivery in April month also shed Rs 1.20, or 0.23%, to Rs 521.80 per 10 kg, with a business volume of just two lots.

Traders said besides profit booking by speculators, subdued demand against adequate stocks position in physical markets mainly led to the decline in crude palm oil futures prices.'