Palm oil down 0.7% on profit-booking

Crude palm oil prices fell 0.68% to Rs 523.50 per 10 kg in futures trade today as speculators booked profits at prevailing higher levels amid fall in demand in spot market.

At the Multi Commodity Exchange, crude palm oil for delivery in July eased by Rs 3.60 or 0.68% to Rs 523.50 per 10 kg in a business turnover of 142 lots.

Similarly, the oil for delivery in June traded lower by Rs 1.90 or 0.36% to Rs 525.90 per 10 kg in 176 lots.

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