Crude palm oil prices weaken on profit-booking

Crude palm oil prices weakened by Rs 1.70 to Rs 420.30 per 10 kg in futures trade today.

Written by Agencies | New Delhi | Published:October 17, 2012 1:34 pm

Amid profit-bookings by speculators at existing higher levels,subdued domestic demand,crude palm oil prices weakened by Rs 1.70 to Rs 420.30 per 10 kg in futures trade today.

At the Multi Commodity Exchange,the crude palm oil for delivery in November weakened by Rs 1.70,or 0.40 per cent,to Rs 420.30 per 10 kg in business turnover of 349 lots.

In a similar fashion,the oil for delivery in October traded lower by Rs 1.60,or 0.38 per cent,to Rs 415.40 per 10 kg in 314 lots.

Traders said besides profit-taking by speculators,subdued demand in the domestic markets led to decline in crude palm oil prices at futures market.

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