 "Crude palm oil down 0.9% on profit booking")
Crude palm oil prices fell by Rs 5.30 to Rs 567.50 per 10 kg in futures trade today on profit booking by speculators driven by subdued spot market trend.
Besides, a weak trend in overseas market further fuelled the downtrend in crude palm oil futures.
At the Multi Commodity Exchange, crude palm oil for November delivery declined by Rs 5.30, or 0.92%, to Rs 567.50 per 10 kg, with a business turnover of 263 lots.
Traders said besides profit-taking by speculators on subdued domestic demand, a weak overseas trend led to a fall in crude palm oil prices at futures market.
Globally, in Malaysia the contract for delivery in January slid as much as 0.50% to 2,599 ringgit ($813) a metric ton on the Bursa Malaysia Derivatives Exchange.
Besides, a weak trend in overseas market further fuelled the downtrend in crude palm oil futures.
At the Multi Commodity Exchange, crude palm oil for November delivery declined by Rs 5.30, or 0.92%, to Rs 567.50 per 10 kg, with a business turnover of 263 lots.
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Likewise, the oil for delivery in December traded a shade lower at Rs 569.60 per 10 kg a loss of Rs 5.20, or 0.90%, with a business turnover of 308 lots.
Traders said besides profit-taking by speculators on subdued domestic demand, a weak overseas trend led to a fall in crude palm oil prices at futures market.
Globally, in Malaysia the contract for delivery in January slid as much as 0.50% to 2,599 ringgit ($813) a metric ton on the Bursa Malaysia Derivatives Exchange.