MARKET DEVELOPMENT
Crude Palm Oil Falls by 0.5% Amid Profit-booking
Crude Palm Oil Falls by 0.5% Amid Profit-booking
04/09/2015 (Business Standard) - Amid profit-booking by speculators and subdued spot demand, crude palm oil futures prices fell by 0.55% to Rs 378.50 per 10 kg today.
At the Multi Commodity Exchange, crude palm oil for delivery in September eased by Rs 2.10, or 0.55%, to Rs 378.50 per 10 kg in business turnover of 270 lots.
Similarly, the oil for delivery in October traded lower by Rs 1.80, or 0.46%, to Rs 385.40 per 10 kg in 65 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.
At the Multi Commodity Exchange, crude palm oil for delivery in September eased by Rs 2.10, or 0.55%, to Rs 378.50 per 10 kg in business turnover of 270 lots.
Similarly, the oil for delivery in October traded lower by Rs 1.80, or 0.46%, to Rs 385.40 per 10 kg in 65 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.