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Crude palm oil futures fall 0.31 percent on profit-booking
Crude palm oil prices fell 0.31 per cent to Rs 568.50 per 10 kgs in futures trade today as speculators booked profits at prevailing price level amid fall in demand at the spot market.
NEW DELHI: Crude palm oil prices fell 0.31 per cent to Rs 568.50 per 10 kgs in futures trade today as speculators booked profits at prevailing price level amid fall in demand at the spot market.
Besides, sufficient stocks position following increased supplies from the producing regions, fuelled the downtrend.
In futures trading at the Multi Commodity Exchange, crude palm oil for delivery in current month eased by Rs 1.80, or 0.31 per cent, to Rs 568.50 per 10 kgs, in a business turnover of 279 lots.
On similar lines, the oil for delivery in far-month March contract traded lower by Rs 1.70, or 0.29 per cent, to Rs 573 per 10 kgs in 468 lots.Analysts said, besides profit-booking by speculators at prevailing higher levels, fall in demand at the spot market, mainly weighed on crude palm oil prices.
