 "Palm oil down 0.3% on profit-booking")
Crude palm oil prices fell 0.31% to Rs 513.40 per 10 kg in futures trade today as speculators booked profits amid a weak trend in spot markets on falling demand.
Further, adequate stocks in the physical market on increased supplies from producing belts also put pressure on the prices.
At the Multi Commodity Exchange, crude palm oil for delivery in far-month September eased by Rs 1.60, or 0.31%, to Rs 513.40 per 10 kg in a business turnover of 29 lots.
Market analysts said besides profit-booking by speculators at current levels, fall in demand in the spot market against sufficient stocks, weighed on crude palm oil prices at futures trade.
Further, adequate stocks in the physical market on increased supplies from producing belts also put pressure on the prices.
At the Multi Commodity Exchange, crude palm oil for delivery in far-month September eased by Rs 1.60, or 0.31%, to Rs 513.40 per 10 kg in a business turnover of 29 lots.
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Likewise, the oil for delivery in August shed Rs 1.10, or 0.21%, to Rs 520.30 per 10 kg in 150 lots.
Market analysts said besides profit-booking by speculators at current levels, fall in demand in the spot market against sufficient stocks, weighed on crude palm oil prices at futures trade.