Crude palm oil futures fall 0.90 pc on profit-booking
Crude palm oil prices fell 0.90 per cent to Rs 515.60 per 10 kg in futures trade today as speculators booked profits at prevailing higher levels amid fall in demand in spot market.
Crude palm oil prices fell 0.90 per cent to Rs 515.60 per 10 kg in futures trade today as speculators booked profits at prevailing higher levels amid fall in demand in spot market.
Moreover, sufficient stocks position following higher supplies from the producing belts too fuelled the downtrend.
At the Multi Commodity Exchange, crude palm oil for delivery in April eased by Rs 4.70, or 0.90 per cent, to Rs 515.60 per 10 kg in a business turnover of 268 lots.
On similar lines, the oil for delivery in current month traded lower by Rs 3.80, or 0.70 per cent, to Rs 533.20 per 10 kg in 124 lots.
Analysts said, profit-booking by speculators at existing levels, fall in demand in the spot market, mainly weighed on crude palm oil prices.
(This article has not been edited by DNA's editorial team and is auto-generated from an agency feed.)