Crude palm remains weak on profit-booking

Subdued spot demand also dragged prices

Crude palm oil futures prices today fell further by Rs 4 to Rs 566.50 per 10 kg, after speculators booked profits amid subdued spot demand.

A weakening trend in overseas markets also put pressure on the prices.

At the MCX, crude palm oil for delivery in June declined by Rs 4, or 0.70%, to Rs 566.50 per 10 kg in business turnover of 16 lots.

The July contract traded lower by Rs 1.70, or 0.29%, to Rs 572.20 per 10 kg in 146 lots.

Analysts said besides, profit-booking by speculators at existing higher levels, subdued demand in the spot market also influenced crude palm oil futures prices.