Crude palm oil down 0.5% on profit booking

Oil for delivery in November traded lower at 0.28%

Crude palm oil prices fell by Rs 3 to Rs 560.60 per 10 kg in futures trade today on profit booking by speculators driven by subdued spot market trend.

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 December delivery fell by Rs 3, or 0.53%, to Rs 560.60 per 10 kg, with a business turnover of 87 lots.

Likewise, the oil for delivery in November traded lower at Rs 558.40 per 10 kg a loss of Rs 1.60, or 0.28%, with a business turnover of 41 lots.

Traders said besides profit-taking by speculators on subdued domestic demand, a weak overseas trend led to a fall in crude palm oil prices at futures market.