Crude palm oil futures fall 0.63% after profit-booking

Crude palm oil prices fell 0.63 per cent to Rs 554.20 per 10 kg in futures trade today as speculators booked profit at higher levels amid a weak demand and surplus supplies.
Besides, last week's reduction in base import prices of palm oil fuelled the downtrend.
In futures trading at the Multi Commodity Exchange, crude palm oil for delivery in the current month eased by Rs 3.50, or 0.63 per cent, to Rs 554.20 per 10 kg, in a business turnover of 109 lots.
On similar lines, the oil for delivery in January traded lower by Rs 3.10, or 0.55 per cent, to Rs 556.50 per 10 kg in 202 lots.

Observers said fall in demand at the spot market weighed on crude palm oil prices, too.