Crude palm oil futures slide 0.11% on profit-booking

Crude palm oil prices moved down by 0.11 per cent to Rs 545.70 per 10 kg in futures trade today as traders booked profits amid fall in demand at the spot market.

Besides, sufficient stock position following higher supplies from the producing belts too fuelled the downtrend.

At the Multi Commodity Exchange, crude palm oil for delivery in November shed 60 paise, or 0.11 per cent to Rs 545.70 per 10 kg in business turnover of 163 lots.

However, the oil for delivery in October held steady at Rs 545.40 per 10 kg in 319 lots.

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

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