Crude palm oil futures down on profit-booking, global cues

Crude palm oil softened by 0.98 per cent to Rs 456.60 per 10 kg in futures trade today after speculators booked profits amid weak global trends.

At the Multi Commodity Exchange, crude palm oil for delivery in December eased by Rs 4.50, or 0.98 per cent to Rs 456.60 per 10 kg in business turnover of 30 lots.

Likewise, the oil for delivery in November contract traded lower by Rs 4.20, or 0.93 per cent to Rs 449.40 per 10 kg in 60 lots.

The exchange opened for the evening session as it remained closed in the morning for 'Guru Nanak Jayanti'.
 

Analysts said besides profit-booking by speculators at existing levels, a weak trend in the overseas markets mainly influenced crude palm oil prices at futures trade.

Meanwhile, palm fell 1.3 per cent to 2,223 ringgit on the Bursa in Kuala Lumpur.