Crude palm oil futures fall on profit-booking

Crude palm oil prices fell 0.47 percent to Rs 592.70 per 10 kg in futures trade today as speculators booked profits at higher levels amid fall in demand at the spot market.

Further, higher domestic stocks against ample supply also triggered the downtrend in CPO prices.

At the Multi Commodity Exchange, crude palm oil for delivery in the current month contract eased by Rs 2.80, or 0.47 percent, to Rs 592.70 per 10 kg in a business turnover of 27 lots.

The oil for delivery in September contract traded lower by Rs 2.60, or 0.44 percent, to Rs 592.10 per 10 kg in 78 lots.

Analysts said profit-booking by speculators at current levels and a fall in demand at the spot market weighed on crude prices.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)