Crude palm oil futures weaken on profit-booking

New Delhi, Apr 16 (PTI) Crude palm oil prices declined by Rs 3.60 to Rs 625.10 per 10 kg in futures trading today as speculators booked profits at prevailing higher levels, driven by subdued demand in the spot market.

At the Multi Commodity Exchange, crude palm oil for delivery in May declined by Rs 3.60, or 0.57 per cent, to Rs 625.10 per 10 kg in business turnover of 170 lots.

Likewise, the oil for delivery in April contract weakened by Rs 3.40, or 0.55 per cent, to Rs 617.30 per 10 kg in 59 lots.

Analysts said besides profit-booking by speculators at existing higher levels, sluggish demand in the spot market also influenced crude palm oil prices at futures market here.

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