Crude palm oil prices softened by 0.42 per cent to Rs 477.80 per 10 kg in futures trade today as speculators booked profits at prevailing higher levels amid fall in demand at the spot market.
Besides, adequate stocks position on increased supplies from producing regions weighed on crude palm oil prices.
At the Multi Commodity Exchange, crude palm oil for delivery in August fell by Rs 2, or 0.42 per cent to Rs 477.80 per 10 kg in business turnover of 13 lots.
Likewise, the oil for delivery in July contracts shed Rs 2, or 0.41 per cent to Rs 484.70 per 10 kg in 112 lots.
Analysts said besides profit-booking by speculators at prevailing higher levels, easing demand in the spot market against sufficient stocks position mainly weighed on crude palm oil prices at futures trade.
Disclaimer: No Business Standard Journalist was involved in creation of this content
