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Amid profit-booking by speculators and sluggish domestic demand, crude palm oil prices softened by 0.82% to Rs 589.10 per 10 kg in futures trade as speculators trimmed their positions.
At the Multi Commodity Exchange, crude palm oil for delivery in April eased by Rs 4.90, or 0.82% to Rs 589.10 per 10 kg in business turnover of 560 lots.
Likewise, the oil for delivery in March contract traded lower by Rs 4.10, or 0.69% to Rs 590.10 per 10 kg in 144 lots.
Market analysts said besides profit-booking by speculators, sluggish demand in the spot market against adequate stocks position, mainly influenced crude palm oil prices at futures trade.
