Crude palm oil futures fall 0.75% on profit-booking

Crude palm oil prices fell 0.75 per cent to Rs 555.70 per 10 kgs in futures trade today as participants booked profits at prevailing rates amid fall in demand at the spot market.
Besides, sufficient stocks position following higher supplies from producing regions too fuelled the downtrend.
At the Multi Commodity Exchange, crude palm oil for delivery in February eased Rs 4.20, or 0.75 per cent, to Rs 555.70 per 10 kgs, in a business turnover of 196 lots.
On similar lines, the oil for delivery this month traded Rs 2.90, or 0.52 per cent, lower at Rs 550.70 per 10 kgs in 58 lots.

Analysts said besides profit-booking by speculators at prevailing higher levels, fall in demand in the spot market weighed on prices.