Profits booking drag down crude palm oil futures by 0.43%

Crude palm oil prices fell 0.43 per cent to Rs 553 per 10 kg in futures market today as participants booked profits at prevailing levels, driven by easing demand in the spot market.
Besides, adequate stocks position on higher supplies from producing regions put pressure on crude palm oil prices.
At the Multi Commodity Exchange, crude palm oil for delivery in April month declined by Rs 2.40, or 0.43 per cent to Rs 553 per 10 kg in business turnover of 190 lots.
Similarly, the oil for delivery in far-month May contracts traded lower by Rs 1.70, or 0.31 per cent to Rs 555.50 per 10 kg in 100 lots.

Analysts said besides profit-booking by traders at existing levels, fall in demand in the spot market against ample stocks, influenced crude palm oil prices at futures trade.