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Crude palm oil down 0.76% on profit-booking

Subdued demand influences prices

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Press Trust of India New Delhi
Last Updated : Jan 20 2013 | 5:29 AM IST

Crude palm oil continued its downward journey as prices fell by Rs 3.50 to Rs 451.50 per 10 kg in futures trade today on profit-booking by speculators amid subdued spot market trend.

At the Multi Commodity Exchange, crude palm oil for September delivery declined by Rs 3.50, or 0.76%, to Rs 451.50 per 10 kg, with a business turnover of 108 lots.

The October contract fell Rs 3.30, or 0.72%, to Rs 452.30 per 10 kg, with a business turnover of 596 lots.

Traders said besides profit-taking by speculators, a weak trend in spot market led to the fall in crude palm oil prices at futures market.

Meanwhile, palm oil advanced as much as 1% to 2,634 ringgit ($859) a tonne on the Malaysia Derivatives Exchange.

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First Published: Sep 28 2012 | 3:25 PM IST

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