Crude palm oil weaken on profit-booking

Subdued demand also pressurized prices

Crude palm oil prices weakened by Rs 1.20 to Rs 591.10 per 10 kg in futures trade today as speculators booked profits, driven by a weak trend at spot market on subdued demand.

At the MCX, crude palm oil for delivery in June shed Rs 1.20, or 0.20%, to Rs 591.10 per 10 kg in business turnover of 296 lots.

The May contract traded lower by 80 paise, or 0.14%, to Rs 586.50 per 10 kg in 66 lots.

Marketmen said besides profit-booking by speculators, a weak trend at spot market on sluggish demand, mainly kept pressure on crude palm oil prices at futures trade.