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Crude palm oil weak on profit-booking

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Press Trust of India New Delhi
Last Updated : Jan 21 2013 | 4:14 AM IST

Crude palm oil prices declined by Rs two, or 0.48 per cent, to Rs 414.20 per 10 kg in futures trade today on emergence of profit-booking by speculators, driven by sluggish demand in the physical market.

Crude palm oil for August contract fell by Rs two, or 0.48 per cent, to Rs 414.20 per 10 kg, with a business turnover of 94 lots.

The oil for September-month contract eased by Rs 1.30, or 0.31 per cent, to Rs 412.90 per 10 kg, with an open interest of 110 lots, while October contract moved down by Re one, or 0.24 per cent, to Rs 407.80 per 10 kg, with a business volume of 18 lots. 

Traders said besides profit taking by speculators, fall in demand against adequate stocks in physical markets mainly led to a fall in crude palm oil prices at futures market.

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First Published: Aug 12 2010 | 5:00 PM IST

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