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Crude palm oil futures down on profit booking

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Press Trust of India New Delhi

Crude palm oil futures prices declined by Rs 3 to Rs 448.20 per 10 kg due to profit taking amid weak demand at the spot market.

At the Multi Commodity Exchange counter, crude palm oil for delivery in November declined by Rs 3, or 0.66 per cent, to Rs 448.20 per 10 kg, clocking a trade volume of one lot.

Similarly, the oil for delivery in October lost Rs 2.90, or 0.64 per cent, to Rs 449.20 per 10 kg, with an open interest of just one lot.
Traders said besides profit booking by speculators, subdued demand against adequate stocks in the physical markets, also weighed on the crude palm oil futures prices.

 

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First Published: Oct 27 2010 | 1:27 PM IST

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