Crude palm oil futures fall 0.15 pc on profit-booking

Crude palm oil prices fell 0.15 per cent to Rs 581.30 per 10 kg in futures trade today as speculators booked profits at prevailing higher levels amid fall in demand in spot market.

Also, sufficient stocks position following higher supplies from the producing belts too fuelled the downtrend.

At the Multi Commodity Exchange, crude palm oil for delivery this month eased by 0.90 paise, or 0.15 per cent, to Rs 581.30 per 10 kg in a business turnover of 38 lots.

On similar lines, the oil for delivery in March traded lower by 0.40 paise, or 0.07 per cent, to Rs 570.50 per 10 kg in just three lots.

Analysts said besides profit-booking by speculators at prevailing higher levels, fall in demand in the spot market following higher supply from the producing belts mainly influenced crude palm oil prices.

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