Crude Palm Oil Futures Fall on Profit-booking

NEW DELHI: Crude palm oil futures prices fell by Rs 2.80 to Rs 462.10 per 10 kg on Thursday, as speculators booked profits at prevailing higher levels driven by a weak trend at spot market on sluggish demand. 

Further, a weakening trend in overseas markets also put pressure on the prices. 

At the Multi Commodity Exchange, crude palm oil for May declined by Rs 2.80, or 0.60 per cent, to Rs 462.10 per 10 kg in business turnover of 255 lots. 

In a similar fashion, the oil for April contract traded lower by Rs 2.50, or 0.54 per cent, to Rs 459.20 per 10 kg in 281 lots. 

Meanwhile, In Malaysia June-delivery prices fell by 1.30 per cent to $ 770 a tonne on the Malaysia Derivatives Exchange. 

Analysts said besides profit-booking by speculators at existing higher levels, weak global trend also influenced the crude palm oil prices at futures market.

 

Source : The Economic Times

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