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

Crude palm oil weakens 0.2% on profit-booking

Subdued demand, adequate stocks influence prices

Image
Press Trust of India New Delhi
Last Updated : Jan 24 2013 | 2:10 AM IST

Crude palm oil prices fell by Rs 1.10 to Rs 534.70 per 10 kg on emergence of profit-booking by speculators amid subdued spot demand.

At the Multi Commodity Exchange, crude palm oil for delivery in September declined by Rs 1.10, or 0.21%, to Rs 534.70 per 10 kg, with a business turnover of 289 lots.

The October contract traded lower by Rs 1.10, or 0.20%, to Rs 538.30 per 10 kg, with a business turnover of 433 lots.

Traders said besides profit-booking by speculators, subdued demand in the spot market against adequate stocks position led to the fall in crude palm oil prices at futures market.

More From This Section

First Published: Sep 14 2012 | 1:43 PM IST

Next Story