Crude palm oil falls by 0.9% on profit-booking

Crude palm oil slipped 0.90% to Rs 416.40 per 10 kg in futures trade today as speculators booked profits at prevailing higher prices amidst subdued spot market demand.

At the Multi Commodity Exchange, crude palm oil for delivery in August fell by Rs 3.80, or 0.90%, to Rs 416.40 per 10 kg in a business turnover of 334 lots.

Also, the oil for delivery in July eased by 80 paise, or 0.19%, to Rs 418.50 per 10 kg in 96 lots.

Market analysts said besides profit-booking by speculators at prevailing levels, sluggish demand at the spot market, influenced crude palm oil prices in futures trade.