Crude palm oil futures down on profit booking

Crude palm oil traded marginally lower by Rs 1.45 to Rs 647.20 per 10 kg in futures trade today on profit booking by speculators, driven by subdued demand in spot market. 

At the Multi Commodity Exchange, crude palm oil for January declined by Rs 1.30, or 0.24 per cent to Rs 546.50 per 10 kg, with a business volume of single lot. 

In a similar fashion, the oil for delivery in February traded lower by Rs 1, or 0.18 per cent to Rs 554.80 per 10 kg, with a trading volume of one lot. 

Traders said beside profit taking by speculators, fall in demand against adequate stocks in the spot market led to the decline in crude palm oil prices at futures market.