Crude palm oil down by 0.5% on profit-booking

Crude palm oil futures prices were down by 0.54% to Rs 459.30 per 10 kg today after speculators booked profits at prevailing levels amid subdued spot demand.

Further, a weak trend in edible oils overseas weighed on crude palm oil prices.

At the Multi Commodity Exchange, crude palm oil for delivery in December declined by Rs 2.50, or 0.54%, to Rs 459.30 per 10 kg in business turnover of 163 lots.

Similarly, the oil for delivery in November fell 40 paise, or 0.08%, to Rs 450.60 per 10 kg in 21 lots.

Analysts said besides profit-booking by speculators at existing higher levels, subdued demand in the spot market and higher supplies from the major producing belts, put pressure on crude palm oil futures prices.