Crude palm oil declines by 1.28% on profit-booking

Crude palm oil prices fell by 1.28 per cent to Rs 545.30 per 10 kg in futures trade today as speculators booked profits amid a weak trend in spot market on falling demand.
Further, higher supplies from major producing areas and weak trend at the overseas markets weighed on crude palm oil prices at futures trade.
At the Multi Commodity Exchange, crude palm oil for delivery in May eased by Rs 7.10, or 1.28 per cent, to Rs 545.30 per 10 kg, in a business turnover of 591 lots.
The oil for delivery in current month traded lower by Rs, 2.40 or 0.42 per cent, to Rs 561.60 per 10 kg in 218 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.