Crude palm oil futures weaken on profit-booking

Crude palm oil edged lower by 0.10% to Rs 509.70 per 10 kg in the futures market today amid profit-booking by speculators at prevailing levels.

At the Multi Commodity Exchange, crude palm oil for delivery in November fell by 50 paise, or 0.10%, to Rs 509.70 per 10 kg in six lots.

On same lines, for December delivery it shed 20 paise, or 0.04%, to Rs 512.40 per 10 kg in 12 lots.

Traders said besides profit-booking by speculators at prevailing higher levels, sluggish demand in the spot market led to the decline in crude palm oil futures prices.