Crude palm oil futures fall 1.10% on profit-booking

Crude palm oil prices fell 1.10 per cent to Rs 481.10 per 10 kg in futures trade today as traders booked profits amid fall in demand at the spot market.
Besides, sufficient stock position following higher supplies from the producing belts too fuelled the downtrend.
At the Multi Commodity Exchange, crude palm oil for delivery this month eased by Rs 5.40, or 1.10 per cent, to Rs 481.10 per 10 kg, in a business turnover of 765 lots.
On similar lines, the oil for delivery in September contract traded lower by Rs 4.10, or 0.84 per cent, to Rs 482.90 per 10 kg in 279 lots.

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