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Crude palm oil remains weak on profit-booking

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Press Trust of India New Delhi
Last Updated : Jan 21 2013 | 2:54 AM IST

Amid profit-booking by speculators and subdued spot demand, crude palm oil futures prices fell by Rs 4.50 to Rs 620.70 per 10 kg today.

Weakening trend in overseas markets also put pressure on the prices.

At the Multi Commodity Exchange, the April delivery declined by Rs 4.50, or 0.71%, to Rs 620.70 per 10 kg in business turnover of 353 lots.

The May contract traded lower by Rs 4.30, or 0.67%, to Rs 628.10 per 10 kg in 868 lots.

Meanwhile, the June contract fell by 1.40% to $1,160 a tonne on the Malaysia Derivatives Exchange.

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

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First Published: Apr 12 2012 | 1:21 PM IST

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