Crude palm oil futures fall 0.61% on profit-booking

Crude palm oil prices fell 0.61 per cent to Rs 573.10 per 10 kg in futures trade today as traders booked profits amid fall in demand in the spot market.
Besides, sufficient stocks position following higher supplies from the producing belts too fuelled the downtrend.
At the Multi Commodity Exchange, crude palm oil for delivery in February eased by Rs 3.50, or 0.61 per cent, to Rs 573.10 per 10 kg, in a business turnover of 358 lots.
On similar lines, the oil for delivery in this month contracts traded lower by Rs 1.20, or 0.21 per cent, at Rs 559.20 per 10 kg in 172 lots.

Analysts said besides profit-booking by speculators at prevailing higher levels, a weak trend at the domestic spot markets due to fall in demand also weighed on prices.