MARKET DEVELOPMENT
Crude Palm Oil Down By 0.4% on Profit-booking
Crude Palm Oil Down By 0.4% on Profit-booking
20/11/2015 (Business Standard) - Crude palm oil prices were down by 0.41% to Rs 382.70 per 10 kg today after speculators booked profits at prevailing levels amid subdued spot demand.
Further, a weak trend in edible oils overseas weighed on crude palm oil prices.
At the Multi Commodity Exchange, crude palm oil for delivery in November declined by Rs 1.60, or 0.41%, to Rs 382.70 per 10 kg in a business turnover of 67 lots.
Similarly, the oil for delivery in December fell 90 paise, or 0.22%, to Rs 392.30 per 10 kg in 28 lots.
Analysts said besides profit-booking by speculators at existing higher levels, subdued demand in the spot market and higher supplies from the major producing belts, put pressure on crude palm oil futures.
Further, a weak trend in edible oils overseas weighed on crude palm oil prices.
At the Multi Commodity Exchange, crude palm oil for delivery in November declined by Rs 1.60, or 0.41%, to Rs 382.70 per 10 kg in a business turnover of 67 lots.
Similarly, the oil for delivery in December fell 90 paise, or 0.22%, to Rs 392.30 per 10 kg in 28 lots.
Analysts said besides profit-booking by speculators at existing higher levels, subdued demand in the spot market and higher supplies from the major producing belts, put pressure on crude palm oil futures.