Wednesday , August 23 2017
Home / Business / Crude palm oil futures slide 1.12% on profit booking

Crude palm oil futures slide 1.12% on profit booking

New Delhi: Crude palm oil prices fell 1.12 per cent to Rs 520.60 per 10 kg in futures trade today as speculators booked profits at prevailing higher levels amid fall in demand in spot market.

Furthermore, ample stocks following higher supplies from producing belts too weighed on crude palm oil futures.

At the Multi Commodity Exchange, crude palm oil for delivery in November eased by Rs 5.90, or 1.12 per cent, to Rs 520.60 per 10 kg, in a business turnover of 556 lots.

Similarly, the oil for delivery in October traded lower by Rs 3.80, or 0.70 per cent, to Rs 535.50 per 10 kg in 390 lots.

Market analysts said besides profit booking by speculators at prevailing higher levels, fall in demand in the spot market mainly influenced crude palm oil prices.