Crude palm oil futures down 0.49% on profit booking

Crude palm oil prices fell by 0.49 per cent to Rs 539.50 per 10 kg in futures trade today as speculators booked profits at prevailing higher levels amid fall in demand at spot market.

Besides, there were adequate stocks following higher supply from the producing belts.

At the Multi Commodity Exchange, crude palm oil for delivery in September month eased by Rs 2.70 or 0.49 per cent to Rs 539.50 per 10 kg in a business turnover of 442 lots.

Similarly, the oil for delivery in August traded lower by 30 paise or 0.05 per cent to Rs 559 per 10 kg in 76 lots.
 

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