Crude palm oil futures fall 0.25% on profit-booking

Crude palm oil prices fell 0.25 per cent to Rs 578.80 per 10 kgs in futures trade today as traders booked profits amid fall in demand at the spot market.

Besides, 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 Rs 1.50, or 0.25 per cent, to Rs 575.80 per 10 kgs in a business turnover of 32 lots.

On similar lines, the oil for delivery in March contracts traded lower by Rs 1.40, or 0.24 per cent, at Rs 580 per 10 kgs in 55 lots.

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

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