 "Palm oil down 0.4% on profit booking")
Crude palm oil prices drifted by 0.44% to Rs 569.70 per 10 kg in futures trade today as traders booked profits at prevailing levels, driven by a fall in demand in the spot market against adequate stocks.
At the Multi Commodity Exchange, crude palm oil for delivery in far-month May fell by Rs 2.50, or 0.44% to Rs 569.70 per 10 kg in a business turnover of 41 lots.
Likewise, the oil for delivery in April weakened by Rs 1.80, or 0.31% to Rs 570.50 per 10 kg in 39 lots.
Analysts said besides profit-booking by participants at existing levels, decline in demand in the spot market against ample stocks, influenced crude palm oil prices at futures trade.
At the Multi Commodity Exchange, crude palm oil for delivery in far-month May fell by Rs 2.50, or 0.44% to Rs 569.70 per 10 kg in a business turnover of 41 lots.
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Likewise, the oil for delivery in April weakened by Rs 1.80, or 0.31% to Rs 570.50 per 10 kg in 39 lots.
Analysts said besides profit-booking by participants at existing levels, decline in demand in the spot market against ample stocks, influenced crude palm oil prices at futures trade.