Crude palm oil futures fall 0.61% on profit-booking

NEW DELHI: Crude palm oil futures prices fell by 0.61 per cent to Rs 481.80 per 10 kg today, after speculators booked profits at prevailing levels amid a weakening trend overseas.

At the Multi Commodity Exchange, crude palm oil for delivery in July declined by Rs 3, or 0.61 per cent, to Rs 481.80 per 10 kg in business turnover of 123 lots.

Similarly, the oil for delivery in June traded lower by Rs 2.80, or 0.57 per cent, to Rs 481.30 per 10 kg in 96 lots.

Analysts said besides profit-booking by speculators at existing levels, a weak trend overseas on speculation that demand may slow from India mainly influenced crude palm oil futures prices.

Meanwhile, palm oil for delivery in August dropped by 0.80 per cent to 2,376 ringgit ($ 768) a tonne on the Malaysia Derivatives Exchange.