Crude palm oil down 0.8% on profit booking

Crude palm oil prices fell 0.82% to Rs 518 per 10 kg in futures trade today as speculators booked profits at prevailing higher levels amid fall in demand in spot market.

Besides, there were ample stocks following higher supply from the producing belts.

At the Multi Commodity Exchange, crude palm oil for delivery in current month eased by Rs 4.30 or 0.82% to Rs 518 per 10 kg in a business turnover of 52 lots.

Similarly, the oil for delivery in August traded lower by Rs 1.60 or 0.33% to Rs 490.60 per 10 kg in 120 lots.

Market analysts said besides profit booking by speculators at prevailing higher levels, fall in demand in the spot market mainly influenced crude palm oil prices.