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This is an archive article published on September 11, 2012

Crude palm oil prices declines on profit-booking

Weak trend in overseas market further fuelled the downtrend in crude palm oil futures.

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Crude palm oil prices declined by Rs 5.20 to Rs 540 per 10 kg in futures trade today on emergence of profit-booking by speculators amid subdued spot demand.

Weak trend in overseas market further fuelled the downtrend in crude palm oil futures.

At the Multi Commodity Exchange,crude palm oil for delivery in October declined by Rs 5.20,or 0.82 per cent,to Rs 540 per 10 kg,with a business turnover of 136 lots.

Likewise,the oil for delivery in September shed Rs 4.50,or 0.82 per cent,to Rs 538 per 10 kg,with a business turnover of 95 lots.

Traders said besides profit-taking by speculators,subdued demand and a weak trend overseas led to decline in crude palm oil prices at futures market.

 

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