Crude palm oil futures slide 1.14% on profit-booking

Crude palm oil prices moved lower by 1.14 per cent to Rs 536.60 pr 10 kg in futures trade today as traders booked profit amid subdued demand in the spot market.

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

At Multi Commodity Exchange, crude palm oil for delivery in October fell by Rs 6.20, or 1.14 per cent, to Rs 536.60 per 10 kg in a business turnover of 410 lots.

Likewise, the oil for delivery in September contracts traded lower by Rs 3.40, or 0.62 per cent, to Rs 541.50 per 10 kg in 143 lots.

Analysts said that besides profit-booking by speculators at prevailing higher levels, decline 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.)