Crude palm oil futures succumb to profit-booking, slide 0.44%

Crude palm oil prices declined by 0.44 per cent to Rs 546.20 per 10 kg in futures trade today as speculators booked profits at prevailing higher levels, driven by easing demand in the spot market.

Besides, adequate stocks position following higher supplies from the producing belts, weighed on prices.

At the Multi Commodity Exchange, crude palm oil for delivery in September fell Rs 2.40, or 0.44 per cent, to Rs 546.20 per 10 kg in a business turnover of 45 lots.

Likewise, the oil for delivery in October traded lower by Rs 2.10, or 0.38 per cent, to Rs 543.50 per 10 kg in 35 lots.
 

Analysts said, besides profit-booking by speculators at existing levels, fall in demand in the physical market, mainly led to the decline in crude palm oil prices at futures trade.