 "Palm oil down 0.3% on profit-booking")
Crude palm oil prices fell 0.30% to Rs 525.60 per 10 kg in futures trade today as speculators booked profits at prevailing levels as spot demand declined.
Adequate stocks position in the physical market on increased supplies from producing region also put pressure on prices of palm oil.
At the Multi Commodity Exchange, crude palm oil for delivery in July shed Rs 1.60, or 0.30%, to Rs 525.60 per 10 kg in business turnover of 128 lots.
Analysts said besides profit-booking by speculators at existing levels, fall in demand in the spot market against adequate stocks position mainly led to the fall in crude palm oil prices at futures trade.
Adequate stocks position in the physical market on increased supplies from producing region also put pressure on prices of palm oil.
At the Multi Commodity Exchange, crude palm oil for delivery in July shed Rs 1.60, or 0.30%, to Rs 525.60 per 10 kg in business turnover of 128 lots.
More From This Section
Similarly, the oil for delivery in June contract shed Rs 1.30, or 0.25%, to Rs 527.50 per 10 kg in 61 lots.
Analysts said besides profit-booking by speculators at existing levels, fall in demand in the spot market against adequate stocks position mainly led to the fall in crude palm oil prices at futures trade.