Crude palm oil futures weaken on profit-booking

Crude palm oil prices were down by 0.18 per cent to Rs 511.70 per 10 kg in futures trade today as speculators booked profits at prevailing higher levels amid easing demand in spot market against adequate stocks.

At the Multi Commodity Exchange, crude palm oil for delivery in April shed 90 paise, or 0.18 per cent, to Rs 511.70 per 10 kg, in a business turnover of 186 lots.

On similar lines, the oil for delivery in March was trading lower by 60 paise, or 0.11 per cent, to Rs 538 per 10 kg in 17 lots.

Analysts said besides profit-booking by participants at existing levels, fall in demand in the spot market against ample stocks position, mainly weighed on crude palm oil prices at futures trade.