Crude palm oil futures turns weak on profit booking

Crude palm oil futures prices turned weak by Rs 1.70 to Rs 544.80 per 10 kg today on profit booking, driven by subdued demand in spot market.

At the Multi Commodity Exchange counter, crude palm oil prices for delivery in January fell by Rs 1.70, or 0.31 per cent, to Rs 544.80 per 10 kg, with a business volume of 33 lots.

The oil for delivery in March eased by Rs 1.50, or 0.27 per cent, to Rs 553.10 per 10 kg, with a trading volume of 116 lots, while February month delivery eased by Rs 1.40, or 0.25 per cent, to Rs 550.60 per 10 kg, with a trade volume of 98 lots.

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