 "Crude palm oil down 0.2% on profit booking")
Crude palm oil prices slide by 0.26% to Rs 539.10 per 10 kg in futures trade today on profit booking by speculators amid sluggish spot market demand.
Besides, a weak trend in overseas market further fuelled the downtrend in crude palm oil futures.
At the Multi Commodity Exchange, crude palm oil for delivery in October declined by Rs 1.40, or 0.26% to Rs 539.10 per 10 kg in business turnover of 104 lots.
Analysts said besides profit taking by speculators, sluggish demand in the spot market and a weak overseas trend, mainly helped crude palm oil prices to trade lower at futures market.
Meanwhile, palm oil for the contract for delivery in January retreated 1.1% to 778 dollar a metric tonne on the Malaysia Derivatives.
Besides, a weak trend in overseas market further fuelled the downtrend in crude palm oil futures.
At the Multi Commodity Exchange, crude palm oil for delivery in October declined by Rs 1.40, or 0.26% to Rs 539.10 per 10 kg in business turnover of 104 lots.
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Similarly, the oil for delivery in November traded higher by Re 1, or 0.19% to Rs 539.50 per 10 kg in 171 lots.
Analysts said besides profit taking by speculators, sluggish demand in the spot market and a weak overseas trend, mainly helped crude palm oil prices to trade lower at futures market.
Meanwhile, palm oil for the contract for delivery in January retreated 1.1% to 778 dollar a metric tonne on the Malaysia Derivatives.