Crude palm oil futures slide 0.39 pc on profit-booking

Crude palm oil prices declined by 0.39 per cent to Rs 531.30 per 10 kg in futures trade today as speculators booked profits at prevailing levels after a decline in demand in the spot market against adequate stocks.

At the Multi Commodity Exchange, crude palm oil for delivery in July declined by Rs 2.10, or 0.39 per cent to Rs 531.30 per 10 kg in business turnover of 202 lots.

Similarly, the oil for delivery in August contracts traded lower by Rs 1.90,or 0.36 per cent to Rs 528.30 per 10 kg in 182 lots.

Analysts said profit-booking by speculators at existing levels and subdued spot demand, weighed on crude palm oil prices at futures trade here.