Crude palm oil futures declines on profit-taking

PTI New Delhi | Updated on June 23, 2011

Crude palm oil prices declined by Rs 3.10 to Rs 489.80 per 10 kg at the futures trade today on emergence of profit-taking, driven by subdued demand at the spot market.

At the Multi Commodity Exchange, crude palm oil for August delivery fell by Rs 3.10 or 0.62 per cent to Rs 489.80 per 10 kg with a business turnover of 90 lots.

Similarly, June contract eased by Rs 3 or 0.61 per cent to Rs 488.30 per 10 kg with an open interest of 36 lots and July contract moved down by Rs 2.80 or 0.56 per cent to Rs 489 per 10 kg with a business turnover of 195 lots.

Traders said besides profit-taking by speculators, fall in demand against adequate stocks at the spot market mainly led to the fall in crude palm oil futures prices.

Published on June 23, 2011

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