Profit-booking drags crude palm oil by 0.94%

Fall in demand in spot market, higher inventory add pressure on prices in futures trade

Crude palm oil prices eased by 0.94 per cent to Rs 411.80 in futures trading today as traders booked profits at prevailing higher levels amid easing demand in the spot market.

At the Multi Commodity Exchange, crude palm oil for delivery in December month fell Rs 3.90 or 0.94 per cent to Rs 411.80 per 10 kg in business turnover of 315 lots.

Similarly, the oil for delivery in January contracts eased by Rs 3.50 or 0.82 per cent to Rs 421.80 in 293 lots.

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