Crude palm oil futures dip 1.17% on profit-booking

Crude palm oil futures prices dipped by 1.17 per cent to Rs 387.20 per 10 kg today after speculators booked profits at prevailing levels amid subdued spot demand.

At the Multi Commodity Exchange, crude palm oil for delivery in September declined by Rs 4.60, or 1.17 per cent, to Rs 387.20 per 10 kg in business turnover of 1,210 lots.

Similarly, the oil for delivery in October fell by Rs 1.60, or 0.40 per cent, to Rs 389.40 per 10 kg in 1,456 lots.

Analysts said besides profit-booking by speculators at existing higher levels, subdued demand in the spot market and a weak trend overseas, also influenced crude palm oil futures prices.