Crude palm oil futures down on profit booking

Crude palm oil futures traded lower by Rs 2.60 to Rs 452.20 per 10 kg today, as speculators booked profits, influenced by a weak trend in the spot markets.

Adequate supplies in the physical market also put pressure on the crude palm oil prices.

At the Multi Commodity Exchange counter, crude palm oil for November delivery declined by Rs 2.60, or 0.57 per cent, to Rs 452.20 per 10 kg, with a trade volume of just one lot.

Similarly, the oil for delivery in December lost Rs 2.40, or 0.53 per cent, to Rs 453.10 per 10 kg, with a business turnover of two lots.

Traders said besides profit-booking by speculators, subdued demand in the spot market against adequate stocks also led to a fall in crude palm oil prices at futures market.