Crude palm oil falls by 0.3% on profit-booking

Crude palm oil prices were down by 0.26% to Rs 426 per 10 kg in futures trading today as speculators booked profits at prevailing levels amid sluggish demand in the spot market.

Besides, adequate stocks position due to higher supplies from major producing regions fuelled the downtrend.

At the Multi Commodity Exchange, crude palm oil for delivery in January fell by Rs 1.10, or 0.26% to Rs 426 per 10 kg with a business turnover of 29 lots.

Similarly, the oil for delivery in February weakened by Re 1, or 0.23% to Rs 430.80 per 10 kg in 40 lots.
 
Analysts said besides profit-booking by traders, fall in demand in the spot market mainly influenced crude palm oil prices at futures trade.