Crude palm oil futures decline 0.30% on profit-booking

Crude palm oil prices fell by 0.30 per cent to Rs 433.70 per 10 kg in futures trade today after speculators booked profits at existing higher levels amid sluggish demand in the spot market.
Besides, adequate stocks position in the physical market on increased supplies from producing belts kept pressure on crude palm oil prices.
At the Multi Commodity Exchange, crude palm oil for delivery in December traded lower by Rs 1.30, or 0.30 per cent to Rs 433.70 per 10 kg in business turnover of 27 lots.
Similarly, the oil for delivery in January 2015 contract shed 90 paise, or 0.20 per cent to Rs 441.10 per 10 kg in 12 lots.

Analysts said besides profit-booking by speculators at existing levels, fall in demand at prevailing in the spot market against adequate stocks position mainly influenced crude palm oil prices at futures trade.