Crude palm oil futures slide 0.73% on profit booking

Crude palm oil prices declined by 0.73 per cent to Rs 409.50 per 10 kg in futures trade today as speculators booked profits at prevailing higher levels amid fall in demand in the spot market.

At the Multi Commodity Exchange, crude palm oil for delivery in far-month January fell by Rs 3, or 0.73 per cent to Rs 409.50 per 10 kg in business turnover of 266 lots.

Likewise, the oil for delivery in December contracts shed Rs 1.70, or 0.42 per cent to Rs 402.90 per 10 kg in 80 lots.

Marketmen said besides profit booking by participants at existing levels, decline in demand in the spot market against adequate stocks position mainly influenced crude palm oil prices at futures trade.