MARKET DEVELOPMENT
Crude Palm Oil Falls Almost 1% on Profit-Booking
Crude Palm Oil Falls Almost 1% on Profit-Booking
03/05/2013 (Business Standard) - Crude palm oil futures for May declined by Rs 4.30, or 0.93%, to Rs 454.30 per 10 kg in 245 lots.
At the Multi Commodity Exchange (MCX), the June contract traded lower by Rs 4.10, or 0.89%, to Rs 452.10 per 10 kg in 101 lots.
Prices fell as speculators booked-profits at prevailing higher levels driven by weak spot markets trend on sluggish demand.
Weaking trend in overseas markets also put pressure on oil futures prices.
On the Malaysia Derivatives Exchange (MDEX), crude palm oil declined 1.20% to $740 a tonne, the lowest price for the most-active contract since April 23.
At the Multi Commodity Exchange (MCX), the June contract traded lower by Rs 4.10, or 0.89%, to Rs 452.10 per 10 kg in 101 lots.
Prices fell as speculators booked-profits at prevailing higher levels driven by weak spot markets trend on sluggish demand.
Weaking trend in overseas markets also put pressure on oil futures prices.
On the Malaysia Derivatives Exchange (MDEX), crude palm oil declined 1.20% to $740 a tonne, the lowest price for the most-active contract since April 23.