Agri Business

Crude palm oil falls

PTI New Delhi | Updated on January 04, 2011 Published on January 04, 2011

WEAKENING TREND: Market analysts said fresh off-loading by speculators in tandem with a weakening global trend led to a fall in futures prices -- K.K. Mustafah   -  Business Line

Crude palm oil prices fell by Rs 4.80 to Rs 572.10 per 10 kg in futures market on Tuesday on fresh off-loading by speculators on the back of weakening global trend.

At the Multi Commodity Exchange counter, crude palm oil for delivery in March month fell by Rs 4.80 or 0.83 per cent to Rs 572.10 per 10 kg, with an open interest of just one lot.

Similarly, the oil for delivery in February declined by Rs 3.90 or 0.68 per cent to Rs 567 per 10 kg with a business turnover of three lots. While oil for January-month delivery traded lower by Rs 3.20 or 0.58 per cent to Rs 561.90 per 10 kg, with a business volume of one lot.

Market analysts said fresh off-loading by speculators in tandem with a weakening global trend led to a fall in futures prices.

Meanwhile, palm oil futures for March delivery declined 1.2 per cent to $1,243 a tonne on the Malaysia Derivatives Exchange.

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Published on January 04, 2011
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