ET:Crude palm oil futures weaken on profit-bookings
NEW DELHI: Crude palm oil prices weakened by Rs 1.20 to Rs 591.10 per 10 kg in futures trade today as speculators booked profits, driven by a weak trend at spot market on subdued demand.
At the Multi Commodity Exchange, crude palm oil for delivery in June shed Rs 1.20, or 0.20 per cent, to Rs 591.10 per 10 kg in business turnover of 296 lots.
Likewise, the oil for delivery in the May contract traded lower by 80 paise, or 0.14 per cent, to Rs 586.50 per 10 kg in 66 lots.
Marketmen said besides profit-booking by speculators, a weak trend at spot market on sluggish demand, mainly kept pressure on crude palm oil prices at futures trade.
