Crude palm oil down 0.36% on profit-booking

Subdued spot demand, weak global trend prompt traders to offload positions

Crude palm oil prices fell by 0.36 per cent to Rs 461.80 per 10 kg in futures trade today amid profit-booking by speculators and subdued spot demand.     

Besides, a weakening trend in the overseas markets also put pressure on the prices.

At the Multi Commodity Exchange, crude palm oil for delivery in April declined Rs 1.70, or 0.36 per cent to Rs 461.80 per 10 kg in a business turnover of 89 lots.     

The March contract traded lower by Rs 1.20, or 0.26 per cent to Rs 457.80 per 10 kg in 132 lots.

Analysts said profit-booking by speculators at existing higher levels and a weakening overseas trend mainly influenced crude palm oil prices.

Meanwhile, palm oil lost 0.30 per cent to $776 a tonne on the Malaysia Derivatives Exchange.