Crude palm oil futures weaken on profit booking

Crude palm oil futures prices declined by Rs 2.30 to Rs 504.10 per 10 kg today due to profit booking, driven by a subdued demand in spot markets.

At the Multi Commodity Exchange platform, Crude palm oil for delivery in January fell by Rs 2.30, or 0.45 per cent to Rs 504.10 per 10 kg.

The oil for delivery in December eased by Rs 1.80, or 0.36 per cent to Rs 502.50 per 10 kg.

Traders said beside profit taking by speculators, fall in demand against adequate stocks in physical markets, led to the fall in crude palm oil futures prices.