Crude palm oil declines 0.21% on profit-booking

Speculators exit at prevailing higher levels amid sluggish demand in the spot market

Crude palm oil weakened by 0.21 per cent to Rs 427.60 per 10 kg in futures trading today as speculators booked profits at prevailing higher levels amidst sluggish demand in the spot market.

At the Multi Commodity Exchange, crude palm oil for delivery in October moved down by 90 paise, or 0.21 per cent to Rs 427.60 per 10 kg in business turnover of 20 lots.

The September contract traded lower by 80 paise, or 0.18 per cent to Rs 432.10 per 10 kg in 33 lots.

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