Crude palm oil down 0.2% on profit-booking
Subdued demand in the spot market, weak trend overseas influenced crude palm oil futures prices
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Crude palm oil futures prices fell by 0.26% to Rs 523.50 per 10 kg today, after speculators booked profits at prevailing levels amid subdued spot demand.
At the Multi Commodity Exchange, crude palm oil for delivery in October declined by Rs 1.40, or 0.26%, to Rs 523.50 per 10 kg in business turnover of 67 lots.
Similarly, the oil for delivery in September traded lower by Rs 1.10, or 0.20%, to Rs 531.10 per 10 kg in 72 lots.
Analysts said besides profit-booking by speculators at existing higher levels, subdued demand in the spot market and a weak trend overseas, also influenced crude palm oil futures prices.
Meanwhile, palm oil for delivery in December lost by 0.40% to 2,301 ringgit (USD 716) a tonne on the Malaysia Derivatives Exchange.
At the Multi Commodity Exchange, crude palm oil for delivery in October declined by Rs 1.40, or 0.26%, to Rs 523.50 per 10 kg in business turnover of 67 lots.
Similarly, the oil for delivery in September traded lower by Rs 1.10, or 0.20%, to Rs 531.10 per 10 kg in 72 lots.
Analysts said besides profit-booking by speculators at existing higher levels, subdued demand in the spot market and a weak trend overseas, also influenced crude palm oil futures prices.
Meanwhile, palm oil for delivery in December lost by 0.40% to 2,301 ringgit (USD 716) a tonne on the Malaysia Derivatives Exchange.
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First Published: Sep 25 2013 | 12:50 PM IST