IE:Crude palm oil prices declines on profit-booking
Crude palm oil prices declined by Rs 3.70 to Rs 414.80 per 10 kg in futures trade today on emergence of profit-booking by speculators, driven by subdued demand in the spot markets.
At the Multi Commodity Exchange, crude palm oil for delivery in October declined by Rs 3.70, or 0.88 per cent, to Rs 414.80 per 10 kg, with a business turnover of 537 lots.
Likewise, the oil for delivery in November shed Rs 3.40, or 0.80 per cent, to Rs 418.90 per 10 kg, with a business turnover of 442 lots.
Traders said besides profit-taking by speculators, subdued demand in the domestic markets led to a decline in crude palm oil prices at futures market.
