Business Standard

Crude palm oil sheds 0.4% on profit-selling

Image

Press Trust of India New Delhi

Crude palm oil futures prices today fell by Rs 2.30 to Rs 514.50 per 10 kg on profit-selling at existing higher levels amid subdued spot demand.

Weakening trend in overseas markets also put pressure on prices.

At the Multi Commodity Exchange, crude palm oil for delivery in February fell by Rs 2.30, or 0.44%, to Rs 514.50 per 10 kg, with a trading volume of 181 lots.

The April contract moved down by Rs 2.10, or 0.40%, to Rs 520 per 10 kg, with a trading volume of 98 lots, while March palm oil lost Rs 1.90, or 0.36%, to Rs 518.90 per 10 kg, with business volume of 145 lots.

 

Traders said profit-selling driven by fall in demand in the spot market led to fall in crude palm oil prices at futures market here.

Don't miss the most important news and views of the day. Get them on our Telegram channel

First Published: Feb 07 2012 | 12:14 PM IST

Explore News