Crude palm oil futures weaken by 0.27% on profit booking

Crude palm oil prices softened by 0.27 per cent to Rs 552.50 per 10 kg in futures trading today as participants booked profits at prevailing levels, driven by easing demand in the spot market against adequate stocks.

At the Multi Commodity Exchange, crude palm oil for delivery in April month edged lower by Rs 1.50, or 0.27 per cent to Rs 552.50 per 10 kg in business turnover of 136 lots.

Analysts said besides profit-booking by traders at existing levels, fall in demand in the spot market against sufficient stocks, led to the decline in crude palm oil prices at futures trade.