Crude palm oil futures fall 0.74 pc on profit-booking

Crude palm oil prices fell 0.74 per cent to Rs 587.70 per 10 kg in futures trade today as speculators booked profits at prevailing higher levels amid fall in demand at the spot market.

Besides, sufficient stocks position following increased supplies from the producing regions, fuelled the downtrend.

At the Multi Commodity Exchange, crude palm oil for delivery in December eased by Rs 4.40, or 0.74 per cent, to Rs 587.70 per 10 kg, in a business turnover of 252 lots.

On similar lines, the oil for delivery in current month traded lower by Rs 1.70, or 0.29 per cent, to Rs 588.50 per 10 kg in 68 lots.
 

Analysts said, besides profit-booking by speculators at prevailing higher levels, fall in demand at the spot market, mainly weighed on crude palm oil prices.