Palm oil down 0.4% on profit-booking

Oil for delivery in January declined by 0.34%

Crude palm oil prices moved down by 0.43% to Rs 532.60 per per 10 kg in futures trading today on profit-booking by speculators at existing higher levels amid fall in demand in the spot market.

At the Multi Commodity Exchange, crude palm oil for delivery in February fell by Rs 2.30, or 0.43%, to Rs 532.60 per 10 kg in business turnover of 124 lots.

Likewise, the oil for delivery in January declined by Rs 1.80, or 0.34%, to Rs 527.60 per 10 kg in 84 lots.

Traders said besides profit-booking by speculators at prevailing higher levels, fall in demand in the spot market mainly influenced crude palm oil prices at futures trade.