Crude palm oil futures dip 2.44 pc on profit-booking

Crude palm oil prices dropped by 2.44 per cent to Rs 511.40 per 10 kg in futures trade.

Written by Agencies | New Delhi | Published: September 18, 2012 12:40 pm

Crude palm oil prices dropped by 2.44 per cent to Rs 511.40 per 10 kg in futures trade today as speculators booked profits amid sluggish demand in the spot market.

At the Multi Commodity Exchange,crude palm oil for delivery in September dipped by Rs 12.80,or 2.44 per cent,to Rs 511.40 per 10 kg,with a business turnover of 495 lots.

Likewise,the oil for delivery in October declined by Rs 12.10,or 2.29 per cent,to Rs 515.30 per 10 kg,with a business turnover of 450 lots.

Marketmen said besides profit-taking by speculators,sluggish demand in the spot market led to the fall in crude palm oil prices at futures market.

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