 "Palm oil down 0.5% on profit-booking")
Crude palm oil prices declined 0.47% to Rs 491.50 per 10 kg in futures trade today as speculators booked profits at prevailing levels amidst subdued demand in spot market against adequate stocks position.
At the Multi Commodity Exchange, crude palm oil for delivery in August fell by Rs 2.30, or 0.47%, to Rs 491.50 per 10 kg in a business turnover of 29 lots.
Similarly, the oil for delivery in September traded lower by 60 paise, or 0.13%, to Rs 465.80 per 10 kg in 70 lots.
Market analysts said besides profit-booking by speculators at existing levels, subdued demand in the spot market, weighed on crude palm oil prices at futures trade.
At the Multi Commodity Exchange, crude palm oil for delivery in August fell by Rs 2.30, or 0.47%, to Rs 491.50 per 10 kg in a business turnover of 29 lots.
Similarly, the oil for delivery in September traded lower by 60 paise, or 0.13%, to Rs 465.80 per 10 kg in 70 lots.
Market analysts said besides profit-booking by speculators at existing levels, subdued demand in the spot market, weighed on crude palm oil prices at futures trade.