Crude palm oil falls on profit-booking

Crude palm oil fell 0.64 per cent to Rs 399 per 10 kg in futures trade today as speculators booked profits at existing higher levels amidst subdued spot market demand.

At the Multi Commodity Exchange, crude palm oil for delivery in August traded lower by Rs 2.60, or 0.64 per cent, to Rs 399 per 10 kg in a business turnover of 89 lots.

Similarly, the oil for delivery in September eased by Rs 2.20, or 0.54 per cent, to Rs 399.90 per 10 kg in 42 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.