Crude palm oil shed 0.32% profit-booking

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SummaryCrude palm oil prices shed 0.32 per cent to Rs 434 per 10 kg in futures trading today.

Amid profit-booking by speculators at prevailing levels and sluggish domestic demand, crude palm oil prices shed 0.32 per cent to Rs 434 per 10 kg in futures trading today.

At the Multi Commodity Exchange, crude palm oil for delivery in November declined by Rs 1.40, or 0.32 per cent, to Rs 434 per 10 kg, with a business turnover of 365 lots.

Similarly, the oil for delivery in December traded lower by the same margin to Rs 439.50 per 10 kg, with a business turnover of 510 lots.

Marketmen said besides profit-booking by speculators at prevailing higher levels, subdued demand in the spot market against adequate stocks position mainly led to a decline in crude palm oil prices at futures market.

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