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Crude palm oil declines on profit taking

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Press Trust of India New Delhi

Crude palm oil prices traded marginally lower by Rs 0.60 or 0.16 per cent to Rs 363.30 per 10 kg in futures trade today on profit taking by traders at existing higher levels.

Sluggish demand in spot markets also influenced the trading sentiment.

At the Multi Commodity Exchange counter, crude palm oil for August-month contract declined by Rs 0.60, or 0.16 per cent to Rs 363.30 per 10 kg, with an open interest of 917 lots.

Similarly, the oil for delivery in June-month contract lost Rs 0.50, or 0.14 per cent to Rs 367.30 per 10 kg, with a business volume of 1,584 lots.

Marketmen said, profit taking by traders on subdued demand in the spot market led to a fall in crude palm oil prices at futures trade.

 

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First Published: Jun 15 2010 | 4:06 PM IST

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