Crude palm oil futures soften 0.15% on profit-booking

At the Multi Commodity Exchange, crude palm oil for delivery in October declined by 80 paise, or 0.15 per cent to Rs 534.80 per 10 kg in a business turnover of 62 lots.

By: PTI | New Delhi | Updated: October 21, 2016 11:42 am
US crude oil prices, US crude oil, US oil, US Energy Information Administration, US crude oil import, US crude oil export, World market, business news, World news File Photo: Crude oil storage tanks are seen from above at the Cushing oil hub, in Cushing, Oklahoma, March 24, 2016. (REUTERS/Nick Oxford/File Photo)

Crude palm oil prices drifted lower by 0.15 per cent to Rs 534.80 per 10 kg in futures trade Friday as speculators booked profits at prevailing higher levels amid easing demand in spot market.

At the Multi Commodity Exchange, crude palm oil for delivery in October declined by 80 paise, or 0.15 per cent to Rs 534.80 per 10 kg in a business turnover of 62 lots.

Likewise, the oil for delivery in November traded lower by 30 paise, or 0.06 per cent to Rs 510.50 per 10 kg in 69 lots.

Analysts said besides profit-booking by traders at existing levels, fall in demand in the spot market against adequate stocks position on higher supply from the producing belts mainly led to the decline in crude palm oil prices at futures trade.