Crude palm oil futures fall 0.60% on profit-booking

Crude palm oil prices fell 0.60 per cent to Rs 511.80 per 10 kg in futures trade today as speculators booked profits at prevailing higher levels amid fall in demand at the spot market.

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

At the Multi Commodity Exchange, crude palm oil for delivery in June eased by Rs 3.10, or 0.60 per cent, to Rs 511.80 per 10 kg, in a business turnover of 271 lots.

On similar lines, the oil for delivery this month traded lower by Rs 2.50, or 0.47 per cent, to Rs 522.70 per 10 kg in 174 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.)