Crude palm oil futures decline 0.62% on profit-booking

Crude palm oil prices were down by 0.62 per cent to Rs 493 per 10 kg in futures trading today as traders booked profits at prevailing higher levels amid easing demand in the spot market against adequate stocks.

In futures trading at the Multi Commodity Exchange, crude palm oil for delivery in March fell by Rs 3.10, or 0.62 per cent to Rs 493 per 10 kg in business turnover of 212 lots.

Similarly, the oil for delivery in February contracts was trading lower by Rs 2.30, or 0.47 per cent to Rs 486.50 per 10 kg in 69 lots.
 

Analysts said besides profit-booking by participants at existing levels, fall in demand in the spot market against sufficient stocks position mainly led to the fall in crude palm oil prices at futures trade.