Crude palm oil futures soften by 0.36% on profit-booking

Crude palm oil prices drifted lower by 0.36 per cent to Rs 581.70 per 10 kg in futures trade today as traders booked profits amid easing demand at prevailing level in the spot market.
Besides, sufficient stock position following higher supply from the producing belts too fuelled the downtrend.
At the Multi Commodity Exchange, crude palm oil for delivery in November declined by Rs 2.10, or 0.36 per cent to Rs 581.70 per 10 kg in business turnover of 105 lots.
Likewise, the oil for delivery in December traded higher by a similar margin to Rs 585.10 per 10 kg in 154 lots.

Analysts said besides profit-booking by speculators, fall in demand at existing level in the physical market mainly weighed on crude palm oil prices.