Crude palm oil futures fall 0.32 pc on profit-booking

Crude palm oil prices fell 0.32 per cent to Rs 488.10 per 10 kg in futures trade today as speculators booked profits at prevailing higher levels amid fall in demand at the spot market.

Ample stocks following increased supplies from the producing belts too fuelled the downtrend.

At the Multi Commodity Exchange, crude palm oil for delivery in the current month eased by Rs 1.60, or 0.32 per cent, to Rs 488.10 per 10 kg, in a business turnover of 50 lots.

On similar lines, the oil for delivery in July traded lower by 0.90 paise, or 0.18 per cent, to Rs 474.70 per 10 kg in 163 lots.

Analysts said besides profit-booking by speculators at prevailing higher levels, fall in demand at the spot market, mainly weighed on crude palm oil prices.

(This article has not been edited by DNA's editorial team and is auto-generated from an agency feed.)