Palm oil down 0.6% on profit-booking

Oil for delivery in July traded lower by 0.54%

Crude palm oil futures prices fell by 0.64% to Rs 510 per 10 kg today after speculators booked profits at prevailing levels amid a weak trend overseas.

At the Multi Commodity Exchange, crude palm oil for delivery in June declined by Rs 3.30, or 0.64%, to Rs 510 per 10 kg in business turnover of 185 lots.

Similarly, the oil for delivery in July traded lower by Rs 2.80, or 0.54%, to Rs 506.60 per 10 kg in 122 lots.

Analysts said apart from profit-booking by speculators at existing higher levels, a weak trend in the global market influenced crude palm oil futures prices.
 

In Malaysia, palm oil fell 1% to $745 a metric tonne on the Malaysia Derivatives Exchange.