05/01/2017 (Business Standard) -  Crude palm oil prices fell 0.51 per cent to Rs 578.50 per 10 kg in futures trade today as speculators booked profits at prevailing higher levels amid fall in demand at spot market.

Moreover, sufficient stocks position following higher supplies from the producing belts too fuelled the downtrend.

At the Multi Commodity Exchange, crude palm oil for delivery this month eased by Rs 3, or 0.51 per cent, to Rs 578.50 per 10 kg, in a business turnover of 75 lots.

On similar lines, the oil for delivery in February traded lower by Rs 2.40, or 0.42 per cent, to Rs 568.50 per 10 kg in 35 lots.

Analysts said, profit-booking by speculators at existing levels, fall in demand in the spot market, mainly weighed on crude palm oil prices.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)