Don’t miss the latest developments in business and finance.

Crude palm oil declines 1.46% on profit-booking

Subdued demand in the spot market also brought prices lower

Image
Press Trust of India New Delhi
Last Updated : Jan 24 2013 | 1:49 AM IST

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.

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.

Also Read

First Published: Jun 14 2012 | 1:20 PM IST

Next Story