Crude palm oil declines 1.46% on profit-booking
Crude palm oil futures prices fell further by Rs 8 to Rs 538.60 per 10 kg today on continued profit-booking by speculators amid subdued demand.
Weakening trend in overseas markets also put pressure on the prices.
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At the MCX, crude palm oil for delivery in June declined further by Rs 8, or 1.46%, to Rs 538.60 per 10 kg, with a business turnover of 134 lots.
The July contract fell by Rs 5.90, or 1.07%, to Rs 541.80 per 10 kg with trading volume of 278 lots.
Analysts said besides profit-booking by speculators at existing levels, subdued demand in the spot market also influenced crude palm oil futures prices.