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Crude palm oil weakens on profit-booking

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Press Trust of India New Delhi
Last Updated : Jan 20 2013 | 8:45 PM IST

Crude palm oil prices declined by Rs 7.10 at Rs 502.10 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 delivery in June fell by Rs 7.10, or 1.39%, to Rs 502.10 per 10 kg, with a business turnover of 21 lots. The oil for delivery in May eased by Rs 6, or 1.17%, to Rs 505.80 per 10 kg, with a business volume of 47 lots.

Likewise, the oil prices for delivery in April shed Rs 5.70, or 1.10%, to Rs 510 per 10 kg, with an open interest of 29 lots.   

Analysts said besides profit-taking by speculators, fall in demand against adequate stocks in physical markets too put pressure on the crude palm oil at futures market.

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First Published: Apr 13 2011 | 12:44 PM IST

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